UTRUST Cryptocurrency is currently on bearish momentum by 16.04% in the last 24 hours. At 05:23 EST on Thursday, 13 May, UTRUST is at $0.59.
Concerning UTRUST’s daily highs and lows, it’s 0.78% up from its trailing 24 hours low of $0.59 and 16.26% down from its trailing 24 hours high of $0.71.
Currently, UTRUST has 74556 Twitter followers and 3879 Reddit subscribers.
Crypto Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, UTRUST’s crypto is considered to be overbought (>=80).
News about Bitcoin
Musk’s Bitcoin concerns sink crypto-linked stocks. According to Bloomberg Quint on Thursday, 13 May, "Musk’s move is a step in the wrong direction for Bitcoin bulls as well as for stock investors betting on the digital currency. ", "That puts him at odds with ARK Investment Management LLC’s Cathie Wood, who last month shared research that she said would "debunk the myth that Bitcoin mining" is bad for the environment. "
Bitcoin isn’t behaving as an inflation hedge. its move still makes sense. According to Bloomberg Quint on Wednesday, 12 May, "So from that perspective it looks like Bitcoin is simply behaving as a risky,speculative asset, which both explains its action today and also over the last year. ", "In addition to Bitcoin selling off, we’re seeing tech get hammered (down 2%) and the real speculative stuff like the ARKK exchange-traded fund down over 3%. "
Bitcoin (btc) plunges on Tesla Bitcoin suspension, aud/usd spars USD strength. According to DailyFX on Wednesday, 12 May, "Early Thursday - several hours after the New York closing bell - Bitcoin made a sudden and sharp drop. ", "Mr Musk noted the environmental impact, saying "We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel." Tesla’s stock was down just over 1% in after-hours."
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