Bitcoin Struggles Below $50K After Crypto CEOs Take Center Stage

Bitcoin Struggles Below $50K After Crypto CEOs Take Center Stage

Bitcoin failed to hold above the $50,000 mark and was down 4.2% over the past 24 hours.

The largest cryptocurrency by market cap was looking weak on Thursday, a day after executives from six major crypto firms spoke before the U.S. Congress’ Financial Services Committee.

The hearing, which clocked in as one of the longest congressional hearings ever on crypto, lasted almost five hours. Nearly 40 lawmakers asked questions ranging from specific topics like stablecoin backing to broader areas like use cases in the crypto sector.