As bitcoin struggles to hold the $10,700 price range UniswapÃ¢ÂÂs September volume set records but appears to be declining.
- Bitcoin (BTC) trading around $10,757 as of 20:00 UTC (4 p.m. ET). Slipping 1% over the previous 24 hours.
- BitcoinÃ¢ÂÂs 24-hour range: $10,621-$10,924
- BTC above its 10-day moving average but below the 50-day, a sideways signal for market technicians.
BitcoinÃ¢ÂÂs price dropped a couple of hundred dollars as a spate of selling took the worldÃ¢ÂÂs oldest cryptocurrency to as low as $10,621 on spot exchanges such as Coinbase, recovering to $10,757 as of press time.ÃÂ
Katie Stockton, analyst for Fairlead Strategies, says cryptocurrencies like bitcoin are affected by traditional markets, particularly equities, which are considered Ã¢ÂÂrisk-offÃ¢ÂÂ or liquid assets that can easily be sold during a market slide.ÃÂ
Related: Bitcoin May Return to Center Stage After EthereumÃ¢ÂÂs White-Hot Summer
Ã¢ÂÂBitcoin has been attuned to the day-to-day moves in risk assets, but