Investing.com — continued to lose ground on Monday after climbing to a high of over $108,000 nearly two weeks ago.
The world’s largest cryptocurrency fell 1.6% to $93,869.0 by 05:04 ET (10:04 GMT).
Despite the recent pullback, the cryptocurrency remains up 120% for the year, driven by optimism over potential digital currency backing from the incoming Trump administration.
Bitcoin pressured by strong dollar, rate jitters
Bitcoin’s recent declines come as the post-election boost loses momentum, with the premier cryptocurrency settling into a trading range between $92,000 and $100,000, according to Chris Weston, head of research at online broker Pepperstone.
A drop below $92,000 could pave the way for further declines toward $81,000, Weston said in a note seen by the Wall Street Journal.
Bitcoin has traditionally moved inversely to the (DXY), which measures the dollar’s value against key currencies like the .
Recent dollar…
Read More
