Bitcoin Down As Cryptocurrency Market Reverses Uptrend

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BitcoinAfter it had bucked the bearish trend, most major digital assets reversed course, paring earlier gains, as of late Monday afternoon, in sync with US equity markets amidst uncertainties.

Bitcoin (BTC-USD), the largest cryptocurrency by market value, was changing hands at $22.416, down 0.1% in the past 24 hours, after reaching a day high of $22,584. Trading volume was at $17.65 billion, up 33%.

Ethereum (ETH-USD), the second-largest digital asset, was down 0.2% at $1,564, after touching a day high of $1,579. BNB (BNB-USD), the fourth-largest digital asset fell 0.7%, while XRP (XRP-USD), the sixth-largest, was up 1% at $0.37.

Cardano (ADA-USD), Dogecoin (DOGE-USD), and Polygon (MATIC-USD) were down 1.8%, 1% and 1.5%, respectively.

The CoinDesk Market Index, the benchmark index for 158 digital assets, was down 0.2% at 1.050, after reaching a high of 1.057. Meanwhile, the Nasdaq 100 was down 0.1%, S&P 500 and the Dow Jones Industrial Average were little changed.

The US two-year yield closed at 4.894%, up from 4.856% on Friday, while the 10-year rate closed at 3.983%, up from 3.965% on Friday. The cryptocurrency industry’s global market capitalization inched 0.2% lower to $1.02 trillion.




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