Cryptos turn choppy as bounce momentum ebbs


FILE PHOTO: Representations of the virtual currency Bitcoin stand on a motherboard in this picture illustration taken May 20, 2021. REUTERS/Dado Ruvic/Illustration

SINGAPORE (Reuters) - Cryptocurrencies slipped on Thursday, though without falling through recent lows, as traders clung to hopes that a nascent recovery from last week's plunge can regain its momentum.

Bitcoin has failed to hold above its 200-day moving average and it fell about 4% in the Asia session to $37,619. Ether, the coin linked to the ethereum blockchain network and the second-biggest cryptocurrency by market value, fell more than 7% to $2,675.10.

Both have marked sizeable year-to-date gains, with bitcoin up about 30% and ether more than tripling. But a month-long selloff culminating in a sharp collapse last week has each of them well below record peaks made in April.

(Reporting by Tom Westbrook; Editing by Jacqueline Wong)

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

   

Next In Tech News

India plans federal oversight of all real-money online games-sources, document
Could EV charging stations become targets?
Opinion: Musk's Twitter won't die. Look at Telegram
Amazon to restart advertising on Twitter - Platfomer reporter
Search for answers in US triple killing to focus on murky world of online predators
Opinion: San Francisco's self-cleaning public toilets make me scared for the future
Review: 'Gotham Knights' has some bright spots, but doesn’t carry torch to 'Arkham' video game legacy
Musk says 'possible' that Twitter gave preference to leftists during Brazil election
Crypto broker Genesis owes Gemini's customers $900 million, Financial Times reports
The first SMS was sent 30 years ago. When will the last one be?

Others Also Read