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Bitcoin Languishes. Brace for More Declines as ‘People Got a Little Too Excited.’

Jack Denton
·2-min read
Bitcoin Languishes. Brace for More Declines as ‘People Got a Little Too Excited.’

and other cryptocurrencies were little changed Friday, holding at the lower end of recent trading ranges as the technical market picture darkened and enthusiasm seemed to wane among traders following last week’s “halving” event. Bitcoin also is trading below its 50-day moving average of $67,360—a sign of weakness that has been accompanied by other technical market signs indicating that more declines could be coming. “Bitcoin under pressure,” said Alex Kuptsikevich, an analyst at broker FxPro.

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