Despite recovering a few hundred dollars since yesterday, bitcoin’s price is still shaky at around $26,000.
Most alts have finally turned green, albeit in a very modest fashion, with XRP maintaining the $0.5 line.
BTC Shaky at $26K
After last week’s uneventful price performance, BTC headed north on Monday and touched $29,700. This came a day before Europe saw the first spot BTC ETF going live on Euronext Amsterdam. While that seems to be bullish news on the surface, the cryptocurrency headed south and dipped to and below $29,000 by Thursday.
The landscape worsened even more in the following days amid speculations that Elon Musk’s SpaceX has sold its remaining BTC stash. The asset reacted with an immediate price drop that drove it to a new two-month low of $25,300.
It managed to bounce off rather quickly and spiked above $26,000 on the same day. However, it slipped back below it yesterday.
Author: Jordan Lyanchev