Bitcoin Steadies Near $54K After Biggest Drop in a Month

CRYPTONAIRE LYWEEK

CRYPTO investment journal

Bitcoin Steadies Near $54K After Biggest Drop in a Month

The drop below $55,000 comes at a time when cryptocurrency fund inflows have been on the decline.

Bitcoin (BTC) retail investors have picked up the slack amid an apparent decline in institutional inflows so far this quarter, according to a report by JPMorgan strategist Nikolaos Panigirtzoglou.

Bitcoin stabilized near $54,000 early Tuesday after posting its worst daily loss in almost a month.

Bitcoin (BTC) was trading around $54,680 as of 12:50 UTC (8:50 p.m. ET), after falling late Monday to around $53,715, the lowest since March 16.

The largest cryptocurrency fell 5.8% over the previous 24 hours, for its largest daily decline since Feb. 23, according to Bitstamp exchange data. Bitcoin’s 24-hour range: $53,795.15-$58,407.62 (CoinDesk 20).

BTC’s 4-hour chart shows seller volume has been building alongside a falling price, a bearish signal for market technicians.

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CRYPTONAIRE LYWEEK

CRYPTO investment journal