Live news: Bitcoin faces fifth weekly loss as midterm uncertainty and apple warning weigh on markets
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Bitcoin is on track for a fifth consecutive weekly loss, which would mark its joint third-longest losing streak, as investor caution deepens ahead of the U.S. midterm elections and following Apple's supplier warning that it expects lower iPhone production, which dragged risk assets broadly lower. Oil rebounded alongside the macro uncertainty, while crypto markets remained under pressure with bitcoin trading near multi-week lows and altcoins following suit. The Apple margin warning amplified concerns about consumer demand and corporate earnings, reinforcing the risk-off tone that has weighed on both equities and digital assets in recent weeks. Traders are watching whether bitcoin can hold current support levels, with a fifth straight red weekly candle likely to extend bearish sentiment into the midterm results and upcoming earnings reports.
Muhabbit's AI wrote this summary in its own words from CoinDesk's report. It can get details wrong, so check the source.
Named in this story
Bitcoin (BTC), Apple (AAPL), US Midterms
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