Bitcoin Set to Snap Two-Week Streak as Selling Continues

Investing.com — Bitcoin was set to snap a two-week winning streak after falling sharply on Friday, defying investor optimism that the popular crypto was set to mount a sustained move higher following its rebound from below $10,000 earlier this week.

Bitcoin fell 5.6% to $11,181.20, though it remained above the lows of the day of $10,810.

The plunge in bitcoin comes just three days after its slump to a low of $9,728 on Tuesday drew bullish calls from analysts and attracted a wave of buying, pushing the popular crypto to $11,931 in Wednesday.

While bitcoin has seemingly shown resilience around the $10,000 level, it remains just shy of bear market territor. It’s down 19% since its most recent peak of $13,929. During the downward spiral, Bitcoin’s market cap, often used as a gauge of demand, has fallen 18% to $199 billion.

Other cryptos also trended lower, with Ripple falling 3.3% to $0.38137, Ethereum down 1.29% to $290.85 and Litecoin slipping 2.43% to $119.16.

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