COIN - Bitcoin kicks off the week largely below $30000; crypto stocks end lower

2023-04-17 16:39:53 ET

Bitcoin ( BTC-USD ) traded largely below $30K on Monday, kicking off the week in the red and weighing on cryptocurrency-related stocks, while ether ( ETH-USD ) remained above $2K, despite dipping over 2% .

The top crypto posted a weekly gain last week after data showed that inflation was starting to cool, while ether ( ETH-USD ) rallied after its network's successful Shanghai upgrade.

"Bitcoin looks like it might be consolidating here, possibly settling on a new range between the $26.5K and $31K region," said OANDA analyst Edward Moya.

Bitcoin ( BTC-USD ) fell 3% to $29.49K as of 4.39 pm ET, while ether ( ETH-USD ) slipped 2.2% to $2.08K.

Crypto-related stocks that ended lower: Cipher Mining ( CIFR ) -7.6% , Canaan ( CAN ) -7.1% , Marathon Digital ( MARA ) -4.3% , Riot Platforms ( RIOT ) -4.1% , Bakkt ( BKKT ) -3.9% , Coinbase Global ( COIN ) -3.1% .

The recent rise in crypto prices continued to boost sentiment as digital asset investment products booked their fourth straight week of inflows last week, CoinShares data showed.

More on Crypto

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What's Next For Ethereum After Its Shapella Upgrade?

Bitcoin: Highway To The Danger Zone

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