Bitcoin (CRYPTO: BTC) was trading down over 6% on Thursday afternoon, giving back almost all the gains the apex cryptocurrency made the day prior when it shot up 8.2% to close the 24-hour session at $41,953.97.
Volatility has returned the crypto sector recently amid turbulence in the general market, caused by the increasing geopolitical risk brought on by Russia’s invasion of Ukraine, rising inflation and the impending rate hike that is expected to be announced following the Federal Reserve’s monthly meeting on March 16 and March 17.
