finance

Bitcoin Holds in $59,000–$66,000 Range After Brief Drop to $62,800

Bitcoin declined 1.4 percent to around $62,800 on Monday in a modest leverage flush within its recent range. SK Hynix shares also fell in Seoul after the chipmaker's U.S. trading debut.

Jul 13, 2:52 AM(4 hrs ago)·1m read1 source

Bitcoin Holds in $59,000–$66,000 Range After Brief Drop to $62,800

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Bitcoin fell to about $62,800 on Monday, down 1.4 percent over the prior 24 hours after sliding from roughly $64,300 during Asian morning hours, CoinDesk reported. The move occurred inside a month-long trading range between roughly $59,000 and $66,000 and produced only minor liquidations, running at about a sixth of the market's worst level over the past 30 days.

Trading debut. The stock is down more than 30 percent from its June record following a rise of more than 25-fold since the end of 2022. The two assets have moved in the same direction for weeks even though they are not directly linked on Monday.

Analysts at Anchorage Digital attribute roughly 30 percent of the pressure on bitcoin to capital rotating into AI. The June inflation print is scheduled for July 14 and the Federal Reserve meets on July 28 and 29.

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