Bitcoin kicked off the US trading week falling below $27,500 in the afternoon as investors considered PEPE meme coin mania and the significance of Binance congestion issues. Ether fell well below the $1,900 level. _jocelynyang_ reports
, which measures the overall crypto market performance, was down over 5% for the day.
“With more bitcoins being held for longer, a dwindling supply is available for short-term trading,” Cipolaro wrote, adding that this may result in increased volatility or trading costs through wider spreads.
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