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Bitcoin kicks off the week largely below $30,000; crypto stocks end lower

Bitcoin kicks off the week largely below $30,000; crypto stocks end lower


Seeking Alpha
2023-04-17 20:39:53
Bitcoin kicks off the week largely below $30,000; crypto stocks end lower

Bitcoin ( BTC-USD ) traded largely below $30K on Monday, kicking off the week in the red and weighing on cryptocurrency-related stocks, while ether ( ETH-USD ) remained above $2K, despite dipping over 2% . The top crypto posted a weekly gain last week after data showed that inflation was starting to cool, while ether ( ETH-USD ) rallied after its network's successful Shanghai upgrade. "Bitcoin looks like it might be consolidating here, possibly settling on a new range between the $26.5K and $31K region," said OANDA analyst Edward Moya. Bitcoin ( BTC-USD ) fell 3% to $29.49K as of 4.39 pm ET, while ether ( ETH-USD ) slipped 2.2% to $2.08K. Crypto-related stocks that ended lower: Cipher Mining ( CIFR ) -7.6% , Canaan ( CAN ) -7.1% , Marathon Digital ( MARA ) -4.3% , Riot Platforms ( RIOT ) -4.1% , Bakkt ( BKKT ) -3.9% , Coinbase Global ( COIN ) -3.1% . The recent rise in crypto prices continued to boost sentiment as digital asset investment products booked their fourth straight week of inflows last week, CoinShares data showed. More on Crypto CME to expand options on bitcoin, ether futures expiries in May What's Next For Ethereum After Its Shapella Upgrade? Bitcoin: Highway To The Danger Zone Bitcoin Surges 81% YTD: Is The Rally For Real Or Just FOMO?

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