Bitcoin Slumps Under $26K as Bearish Outlook Engulfs Crypto Market

📆 28/08/2023 16:14:00
📰 CoinDesk

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Price-charts suggest more declines ahead even as large investors are adding on their bitcoin holdings, one trader said.

Bitcoin dipped under $26,000 in European morning hours on Monday amid a generally bearish sentiment among crypto traders and the lack of new catalysts to rally markets.

Ether fell 1.1% even as trading aggregator protocol 1Inch invested over $10 million worth of stablecoins from its treasury to purchase 6,088 ETH late on Sunday, providing some buying pressure to an otherwise tepid market. Meanwhile, FxPro trader Alex Kuptsikevich told CoinDesk in a note that the firm expected further declines, citing price-chart data.

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