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Bitcoin Drops Back Within Recent Trading Range; Altcoins Decline

  • Altcoins such as Ether, Polygon underperform market leader
  • Key question remains whether Bitcoin has found its floor yet
Updated on

Bitcoin edged lower for the fifth time in six trading sessions, though the cryptocurrency continued to linger near the closely watched $22,000 price level.  

The largest digital token fell as much as 5.1% on Monday and was exchanging hands at $22,154 as of 4:18 p.m. in New York. Ether slumped as much as 9.5% after outperforming Bitcoin for much of July. Smaller virtual coins like Avalanche and Solana also nursed larger declines.