Market Wrap: Bitcoin Stalls Near $40K as Buyers Take Profits
Analysts see the cryptocurrency's price as remaining range-bound.
Bitcoin is declining as regulatory concerns rise; ether is holding support.
Bitcoin dipped below $40K as traders digest proposed crypto taxes.
"The EIP-1559 upgrade is overrated," one trader said.
Bitcoin-focused funds had outflows totalling $19.7 million, partly offset by net inflows to funds focused on other categories, including multi-asset funds.
Ether has notched a 12-day winning streak, the longest ever.