BTC/USD: Bitcoin wipe out 4% Monday Drop to Regain $26k
WORLD, Sept. 12 – The OG crypto asset is chugging along in a dry-spell September, weighed down by low volatility and thin deal making activity, Trading View reports.
Bitcoin recouped its Monday losses early on Tuesday after crypto bros were quick to scoop up discounted orange coins. Prices dipped 4% to start the week, floating near $24,700 a pop. Before you know it, Bitcoin was back above the $25,000 handle, with a Tuesday session high of $26,110.
The original cryptocurrency is going through a slow September, much like its cousin the traditional stock market. And while the two didn’t talk much in the past, they’ve warmed up and are reacting to the same news in a similar fashion. With that in mind, all eyes will be on the looming inflation data for August, coming Wednesday.
The dry-spell September aside, Bitcoin is having a good year. It’s up a hefty 56% year-to-date, outperforming the tech-heavy Nasdaq Composite index, which is higher by 34% for the same time span. It’s also pulling ahead of Microsoft and Apple, each up about 42%.
