Profit Taking Continues To Weigh On Cryptocurrencies
Main Idea
The article discusses the current consolidation of Bitcoin and Ethereum prices after recent highs and mentions the author's background in trading and capital markets.
Key Points
1. Bitcoin (BTC-USD) and Ethereum (ETH-USD) are consolidating after recent highs.
2. The author has experience in trading and capital markets, including roles at Scotia Capital and BMO Nesbitt Burns.
3. The author has been with OANDA since 2006, contributing to client and industry stakeholder services.
Description
Summary Bitcoin and Ethereum are still consolidating around their relative peaks, underscoring the resilience of the market’s bellwethers. Ethereum's price action is currently consolidating in a triangle formation after hitting some new intermediate highs at $3,944. The selloff ongoing in Solana represents well the rest of the altcoins - a very strong run but also a strong reversal. By Elior Manier After the beginning of last week's big push in altcoins, cryptocurrencies are seeing some kind of ...
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