Why Bitcoin's Run Took Another Break Today
A week ago, Bitcoin's (CRYPTO: BTC) wild ride brought the cryptocurrency to an all-time high price of more than $66,000 per coin. That culminated a three-week run that saw gains of more than 60%. Ethereum (CRYPTO: ETH) similarly soared about 75% in that time period. Uniswap (CRYPTO: UNI), the Ethereum-based decentralized exchange, also has been on the upswing. But those gains have reversed course, and as of 2:15 p.m. EDT today, each were down as follows:
The run to Bitcoin's new high came as cryptocurrency investors anticipated the launch of the first Bitcoin futures exchange-traded fund (ETF) last week. Once ProShares Bitcoin Strategy ETF launched, though, it seems investors began selling on the news. There was another catalyst for today's drops, however.
Image source: Getty Images.
Source Fool.com
