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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
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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.