Bitcoin under pressure as comeback fades By Reuters

Bitcoin under pressure as comeback fades By Reuters

© Reuters. Representations of the virtual currency Bitcoin stand on a motherboard in this picture illustration taken May 20, 2021. REUTERS/Dado Ruvic/Illustration

SINGAPORE (Reuters) – fell 3% on Friday, giving up gains from the Asia session, as its recovery from this week’s plunge shows signs of faltering.

Bitcoin fell to $39,262 on the Bitstamp exchange. That is roughly 30% above its Wednesday low, but just below its 200-day moving average. Rival cryptocurrency ether also came under pressure on Friday, falling 2% to $2,714.

Ether is down 24% for the week and bitcoin down 15%.

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