Market Wrap: Bitcoin Remains Around $48.5K Amid Flat Trading Activity
“We are at all-time-highs territory [and] the market still has to make up its mind" about next resistance or supporting levels, says one broker.
Both bitcoin and stocks had been showing signs of weakness since the beginning of the week.
Big money continues to chase bitcoin on dips, blockchain data shows.
The largest cryptocurrency was up more than 8% Monday, rebounding after its worst seven-day stretch since the coronavirus sell-off in March 2020.
Bitcoin, now worth more than most U.S. corporations, first reached "dollar parity" 10 years ago.
The bank's analysts pointed to gold's much lower volatility.