Bitcoin Trades in Narrow Range as Traders Await Further Catalysts

Investing.com – Bitcoin fell Monday, with little on the horizon to trigger a meaningful move in either direction.

() fell 2.1% to $9,570. But that was up from a low of $9,502.5, adding to losses of more than 7% over the past seven days. The decline is part of a continuing bearish trend that resumed following a surge above the $11,000 handle on July 20.

With little news to spark demand for bitcoin, the path of least resistance appears to be downward for the moment, with some suggesting that the popular crypto may have to drift toward support at $8,800 to pique the interest of bargain hunters.

The range-bound day for the popular crypto comes on the back of an ongoing slip in its market cap, often used to gauge demand.

Bitcoin’s market cap has fallen 8% over the past seven days to $170 billion.

Other cryptos traded higher. rose 0.39% to $0.3102, was up 0.9% to $209.84, and added 0.8% to $90.661.

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