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Bitcoin rose above $25,000 briefly late on Sunday for the first time since mid-June.
The largest currency was trading at $24,153.44 at around 8:31 AM ET on Monday, down more than 1% from 24 hours before. Ether is down 5% on the day trading around $1,900. The cryptocurrency briefly hit $2,012 Monday, the highest since May.
Cryptocurrencies moved higher in the last month or so following a rise in U.S. stocks. Both bitcoin and ether reacted positively to lower-than-expected U.S. inflation last week.
Bitcoin has lost some 66% of its value from lifetime highs of $69,000 in November and has been trading in a range since late June of around $20,000 to $24,000.
Altcoins also were mainly trading down on the day apart from crypto exchange Bitfinex’s token Unus Sed Leo, which was up 5%.
Crypto companies have been selling off whatever assets they have to try to meet their liabilities which has put pressure on the broader market.
Source - Twitter
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