Home Finance Bitcoin down after brief rally above $25,000

Bitcoin down after brief rally above $25,000

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Today, the global crypto-currency market cap is currently down 2.85%. Ethereum also fell on Monday, with prices moving away from a recent high above $2,000.

Bitcoin

After a brief run above $25,000 over the weekend, bitcoin was trading in the red to start the week.

On Sunday, Bitcoin hit an intraday high of $25,135.59, but BTC then slipped to a low of $23,960.03 today.

Sunday’s high was the highest for bitcoin since June 14, when the token’s price was over $26,700.

Looking at the chart, today’s price drop comes after a resistance level of $24,800 was reached over the weekend, with bulls failing to maintain the trend needed to push prices higher.

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In addition, the 14-day relative strength index (RSI) stands at 56.44, after failing to break out of a 61.80 ceiling.

This continues to be the main drag on the euro. BTC is back above $25,000 for a longer period.

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