Small pullback for cryptos, but Bitcoin bounces off support

The crypto market has pulled back — but not by much, at least not so far.

Bitcoin fell from a daily high of $US58,731 at 4.04pm AEDT to a low of $US55,664 at 5.19am – but since then, had been mostly moving steadily higher.

It was trading at $US57,087 ($74,607) at 2.51pm, down 1.8 per cent from 24 hours ago.

Ethereum had broken below the $US2,000 level it had crossed above on Friday three times in the past 24 hours, but by midafternoon was changing hands for $US2,019 ($2,640). That’s down 4.2 per cent in the past 24 hours, but the second-biggest crypto had been on the rise since 10am.

Of the top 100 coins on Coingecko, 25 had gained ground in the past 24 hours and 74 had lost it.

crypto market
Coin360

In another sign of how shallow the pullback was, only 11 of the top 100 coins were down by more than 10 per cent, compared to where they were 24 hours ago, according to Coingolive.

The biggest loser was Helium, which had fallen 16.6 per cent after setting an all-time high on Wednesday.

Ripple’s XRP token was trading at US93.8c, down 10.8 per cent for the day but still higher than anytime since early 2018, save for the last two days.

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The post Small pullback for cryptos, but Bitcoin bounces off support appeared first on Stockhead.

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