Bitcoin holds $29,300 as its volatility rating is now lower than gold's

- The cryptocurrency market continued to trade sideways on Tuesday as the ecosystem struggles to gain momentum in the absence of any major positive developments, while the hack of Curve Finance and concerns about how the XRP ruling will stand up to appeals put pressure on altcoins.

Data from TradingView shows that Bitcoin fell below support at $29,000 in the early hours on Thursday, hitting a low of $28,609 near midday before bulls managed to push it above $29,300 and back into the trading range it has been in since July 24.The pullback resulted in “August Bitcoin futures prices [hitting] a five-week low,” according to Kitco senior technical analyst Jim Wyckoff, who noted that “Prices are in a downtrend on the daily bar chart, albeit at higher price levels.

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