Litecoin News

Bitcoin Inches Lower as Traders Await Further Catalysts

© Reuters.
© Reuters. – Bitcoin fell on Monday, giving up its gains from Sunday trading, as traders awaited further positive catalysts to back the popular crypto.

fell 1.71% to $8,498, down from a session high of $8,753.90.

Bitcoin appears to be entering a period of consolidation after its leap above the $9,000 level on Thursday woke the bears from their slumber, and they knocked the crypto back toward to $8,000.

With little fundamental reason behind the weakness in bitcoin, many have suggested the pullback was likely given the rapid acceleration seen in the popular crypto, which recorded its fourth-straight monthly gain last week.

Still bitcoin’s market cap, which peaked at $153 billion last week and is often used to gauge demand, remained relatively robust at $151 billion suggesting traders are somewhat to reluctant to call time on the rally.

Other cryptos followed bitcoin lower, fell 2.90% to $259.84 and slipped 1.73% to $111.66. proved an exception to the broad-based decline, rising 0.58% to $0.43973.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

View original post

Show More

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button