Bitcoin steady but gives ‘every indication it wants to keep going lower,’ says analyst

clicks | 2 months ago | Google AI sentiment 0.10 | comments: discuss | tags: bitcoin cryptocurrency

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Bitcoin prices were jumping between small gains and losses on Thursday afternoon in New York, continuing what’s been a quiet week for the best-known cryptocurrency.
In afternoon trade, a single bitcoin BTCUSD, -0.04% fetched $3,857.60, up 0.1% since Wednesday at 5 p.m. Eastern time on the Kraken exchange.
What are analysts saying “Bitcoin is still doing a lot of nothing as it seems stuck under $4k resistance. In the opposite move to the broad market, a trade that refuses to rebound will eventually tumble lower,” wrote Jani Ziedins of the CrackedMarket blog.
“Buyers are not interested in pushing BTC any higher and that means all we are doing is waiting here until the next negative headline comes along and knocks us lower. What seems low is giving every indication it wants to keep going lower.”
Altcoins and futures Smaller digital currencies, or altcoins, were mixed on Thursday. Ether, ETHUSD, +0.10% the second-largest cryptocurrency by market value, rose 0.2% to $13.50, Litecoin LTCUSD, +1.18% rose 1.2% to $55.59, Bitcoin Cash BCHUSD, +4.25% gained 3.8% to $131.80 and XRP XRPUSD, -1.34% was down 1.3% at 31 cents.
Bitcoin futures were little changed on Thursday. The Cboe Global Markets April contract XBTJ9, +0.13% was up 0.1% to $3,840, while the CME Group March contract BTCH9, +0.00% was unchanged at $3,845....