Crypto Markets Show Weariness as Bitcoin Struggles to Rally

Bitcoin slumped in October and continues to struggle to gain momentum in November.

That’s according to a report Tuesday (Nov. 11) from Bloomberg News, which noted there are signs of mounting fatigue across cryptocurrency markets after a $340 billion plunge.

The price of bitcoin, the most popular crypto, briefly rose above $107,000 Monday (Nov. 10) before sliding back below $105,000, highlighting the lingering uneasiness following a widespread selloff that wiped out billions in market value.

The coin has yet to find its footing again, the report added. Open interest in Bitcoin perpetual futures was at roughly $68 billion, down from the $94 billion record seen last month.

Flows into exchange-traded funds also show little energy….

Source link