Bitcoin slips sharply from record highs

Reuters2021-02-22

Bitcoin fell sharply on Monday after surging to a record $58,354 a day earlier, as a selloff in global equities curbed risk appetite.

The most popular cryptocurrency rallied over the weekend to record levels, almost doubling year-to-date. It hit a market capitalisation of $1 trillion on Friday.

Bitcoin’s gains have been fueled by signs it is gaining acceptance among mainstream investors and companies, from Tesla Inc and Mastercard Inc to BNY Mellon.

It fell as much as 6% on Monday, and was last trading down 4.4% at $54,941. Rival cryptocurrency ether fell 7% to $1,798 after also hitting a record high on Saturday.

Traders said the move was largely technical, and not tied to any particular news catalyst.

“We did finally see some momentum gathering over the weekend, but weekend rallies haven’t been sustainable lately,” said Joseph Edwards of Enigma Securities, a cryptocurrency broker in London.

“We do tend to think that there’s a good chance of a down week and small correction coming in off of this, although it does little to dull medium-term prospects.”

Tesla boss Elon Musk, whose tweets on bitcoin have added fuel to the cryptocurrency’s rally, said on Saturday the price of bitcoin and ethereum seemed high.

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Comments

kattay
2021-02-24
kattay
:
Agnes_Lim
2021-02-23
Agnes_Lim
Help to comment and like to receive tiger coins ??
- FT585:
  tiger coins ??
- Agnes_Lim:
  ??
naan
2021-02-23
naan
U may analyze RIOT. shadow to bitcon
Favian
2021-02-23
Favian
rally moreee!
Jchptan
2021-02-23
Jchptan
Comment pls
- 不是那么好割的小韭菜:
  Nice
BpchuA
2021-02-23
BpchuA
Market is shaky

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may analyze RIOT. shadow to bitcon","listText":"U may analyze RIOT. shadow to bitcon","text":"U may analyze RIOT. shadow to bitcon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/369227861","repostId":1100241886,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":369263071,"gmtCreate":1614048474493,"gmtModify":1704887319907,"author":{"id":"3562815822807212","authorId":"3562815822807212","name":"Favian","avatar":"https://static.tigerbbs.com/3c9db4d731960e756da0c07d6b32f34a","vip":1,"hat":"https://static.tigerbbs.com/0a8758340a08196056f8bc1e54805193","crmLevel":6,"crmLevelSwitch":1,"idStr":"3562815822807212","authorIdStr":"3562815822807212"},"htmlText":"rally moreee!","listText":"rally moreee!","text":"rally moreee!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/369263071","repostId":1100241886,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":369231958,"gmtCreate":1614045816474,"gmtModify":1704887282090,"author":{"id":"3547639144615679","authorId":"3547639144615679","name":"Jchptan","avatar":"https://static.tigerbbs.com/d97f1aa10a314dfb46a4e618e4f46ac6","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3547639144615679","authorIdStr":"3547639144615679"},"htmlText":"Comment pls","listText":"Comment pls","text":"Comment 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is shaky","listText":"Market is shaky","text":"Market is shaky","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/369294592","repostId":1100241886,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":214,"commentSize":292,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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