Bitcoin fell Tuesday, extending losses from the previous session and putting the cryptocurrency on track for its fifth consecutive losing session.
A single bitcoin
BTCUSD, -0.63%
was fetching $3,402.32, down 1.1% since Monday’s level at 5 p.m. Eastern Time on the Kraken cryptocurrency exchange. Earlier in the session, the cryptocurrency made a new low for the year at $3,344.80.
“There’s just no catalyst to push it [bitcoin] higher at the moment,” said Charles Hayter, co-founder of CryptoCompare. “The macro backdrop isn’t great and the ETF decision has dampened enthusiasm.” Hayter said he expects volumes to pick up in the coming weeks after a December lull.
Read: The global dominators you invest in when Apple and the chips are down
Altcoins mixed, futures lower
Digital currencies other than bitcoin, commonly known as altcoins, were mixed on Tuesday. Ether
ETHUSD, +0.91%
was up 0.5% at $103.99, Litecoin
LTCUSD, +1.81%
rose 1.4% to $30.73, Bitcoin Cash
BCHUSD, +1.65%
is trading 1.2% higher at $110.30 and XRP
XRPUSD, -0.37%
was down 1.2% at 29 cents.
Bitcoin futures were tracking spot markets lower on Tuesday The Cboe Global Markets February contract
XBTG9, -0.44%
was down 0.9% at $3,350, while the CME Group February contract
BTCG9, -0.59%
fell 1% to $3,345.
Read: From barely a murmur to revived talk for a central-bank crypto — here’s the bitcoin buzz from Davos
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