FILE PHOTO: Souvenir tokens representing cryptocurrency Bitcoin plunge into water in this illustration taken May 17, 2022. (Reuters)
Bitcoin slipped back Monday after climbing for four consecutive months through April in the longest such winning run since 2021.
The token slid as much as 3.2% and was trading at $28,580 as of 12.28pm in Tokyo. Smaller coins such as Ether, Solana and Polkadot also retreated, as did an index of the top 100 digital assets.
Bitcoin’s 73% rebound in 2023 from last year’s crypto rout has stalled around the $30,000 level as traders await further catalysts. The rally has been fuelled by bets on an eventual Federal Reserve pivot to looser monetary policy as well as arguments that the US banking crisis…
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