Bitcoin falls on lower volume and volatility

Author: Monitoring Desk

Bitcoin (BTC) plunged 4pc on Thursday, challenging the trend line seen in Wednesday’s Market Wrap when it dipped below $23,000 in early morning trade. Ether (ETH) fell 3pc to less than $1,600. Both BTC and ETH look to be in a short-term downward trend, with seven consecutive negative candles. The S&P 500 and Dow Jones Industrial Average lost 0.1pc and 0.3pc, respectively, in conventional markets. The Nasdaq Composite Index climbed by 0.4pc. Commodity markets saw West Texas Intermediate crude oil fall 2.6pc while spot gold jumped 1.9pc.

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