Bitcoin Lingers Under $20,000 for Longest Stretch Since Late 2020
- Cryptocurrency hasn’t been above benchmark level since Oct. 7
- Other tokens such as Ether are stuck in a similar malaise
Photographer: Paul Yeung/Bloomberg
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Bitcoin has spent more than two weeks trading below a key threshold of $20,000 for the first time since breaching that level in late 2020, indicating a lack of optimism among traders as the asset class’s trademark volatility dissipates in the face of rising interest rates.
The largest cryptocurrency by market value edged lower for a fourth trading session, dropping less than 1% to $18,969 as of 9:33 a.m. in New York. Other tokens were stuck in a similar malaise, with Ether down 0.25% and altcoins including Cardano, Solana and Avalanche all marking falls of between 1.2% and 3% in the last 24 hours.