0916 ET - Bitcoin is down 1.3% to below $78,000 after a 25% gain in August that pushed the cryptocurrency out of rangebound trading at multi-year lows. The "trend structure" for bitcoin prices was repaired in August, says Maximiliaan Michielsen of 21shares in a note. But he adds that for bitcoin, the "hard work" starts with it clearing the 50-day moving average of $81,000. "[It's] the same $81,000-$82,000 band that rejected price earlier this year and sent it back to the $57,000-$58,000 lows," he says. Ethereum is down 1% to $2,447, XRP drops 0.9% to $1.37, and solana falls 1.8% to $101.88.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.