Bitcoin dropped to its lowest level in more than a month as cryptocurrency continued to be hurt by investors’ risk aversion amid signs of muted new interest in the coins.
The largest cryptocurrency fell as much as 4.2% to $38,580 on Monday. Second-largest Ether dropped 4.7%, declining to as low as $2,902. The global crypto market’s value dropped about 4% in the past 24 hours to $1.9 trillion, according to pricing from CoinGecko.
Technical charts suggest that despite Bitcoin’s recent drop it’s “not close to an oversold reading,” and near-term support at $35,000 likely won’t hold, said John Roque, technical…
