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Bitcoin trades above $77,000 as oil's 5% slide pushes Asian equities higher
Key takeaways
- Bitcoin BTC$77,389.41 was slightly higher on Monday as a sharp decline in oil prices helped lift Asian stock markets.
- At 6:35 UTC, the leading cryptocurrency by market value traded near $77,200, up 0.4% from midnight UTC, according to CoinDesk data.
- XRP and Solana (SOL) rose 0.6% or more, while Ether (ETH) gained 0.4%.
Bitcoin BTC$77,389.41 was slightly higher on Monday as a sharp decline in oil prices helped lift Asian stock markets.
At 6:35 UTC, the leading cryptocurrency by market value traded near $77,200, up 0.4% from midnight UTC, according to CoinDesk data. At that level, bitcoin was trading just above its widely tracked 50-day simple moving average of around $76,940. Traders and chart analysts monitor this key level closely, with sustained breakouts above it typically viewed as bullish.Other major cryptocurrencies were also modestly higher.
XRP and Solana (SOL) rose 0.6% or more, while Ether (ETH) gained 0.4%. However, all three continued to trade below their respective 50-day moving averages, lagging Bitcoin on this metric.
Article preview — originally published by CoinDesk. Full story at the source.
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