Bitcoin falls below $40,000 [Video]

Eliman Dambell Sayvio AI

Bitcoin started the new week by once again trading below $40,000, as the world’s largest cryptocurrency failed to continue last week’s rally.

Cryptocurrencies across the board were trading higher last week, as markets rose from the long-term price floor of $33,000.

Since bouncing from that support, prices climbed to a 6-week high of $41,609 on Friday, however failed to break beyond that point today.

BTCUSD fell to an intraday low of $38,899 on Monday, as reports that Saudi Aramco was planning to use flare gas to mine Bitcoin, were swiftly rejected by the oil giant.

Many now believe that the digital currency could head for further consolidation this week.

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Author

Eliman Dambell

Sayvio AI

With over a decade in financial markets, Eliman brings an experienced and diversified point of view to market analysis. He covers current and historical macro trends to give insights on Metals, FX, Stocks, and Crypto.

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