Bitcoin Reverses its Weekend Rally to Drop Below $40,000 Level
- Date: 02-Aug-2021
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
Bitcoin Reverses its Weekend Rally to Drop Below $40,000 Level
(Bloomberg) --
Bitcoin retreated Monday back below $40,000 after climbing over the weekend to the highest levels since May.
The largest cryptocurrency fell as much as 4.9% and was trading at $39,790 as of 11:25 a.m. in Hong Kong. Other virtual coins including second-ranked Ether also fell. Analysts suggested profit-taking lay behind the declines.
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