Bitcoin loses its grip on $50,000 as weekend trading slumps
Bitcoin took another dip below $50,000 today as weekend trading struggled to get going across the board.
Despite briefly showing signs of life yesterday with a determined step up towards $51k in what looked like a genuine effort to shake off the hangover of a crimson-flushed week for cryptocurrency, weak trading volume saw the world’s leading digital asset slide back to a level of support around $49,500.
Traditionally weak in volume throughout BTC’s history, weekends have recently set the scene for some remarkable upward price action. However, last Sunday’s fall from above $60,000 to the mid-fifties followed by an eye-watering tumble to $48,000 days later has seemingly laid down the marker for market sentiment which appears almost disinterested.