Market Wrap: Bitcoin Fails Test of $40K While Ether Loses Steam Near $2.9K
Meanwhile, the cost of gas fees on the Ethereum network is near a three-month low.
Several other risks in the crypto markets were identified by the union's members including shallow liquidity and a lack of legal parameters.
The outperformance came despite a negative month for the leading cryptocurrency by market cap.
Buyers are snapping at bitcoin whenever it dips to $30,000, but the cryptocurrency’s price response to faster inflation readings is puzzling Wall Street analysts.
Bitcoin is recovering from a volatile shakeout. Options expiry has large open interest around $40K.
BTC remains in a tight trading range as the uptrend weakens. Upside appears limited this week.