Bitcoin under pressure as return fades By Reuters

© Reuters. Representations of the Bitcoin virtual currency stand on a motherboard in this illustration photo taken on May 20, 2021. REUTERS / Dado Ruvic / Illustration

SINGAPORE (Reuters) – fell 3% on Friday, abandoning gains from the Asia session, as its recovery from this week’s plunge shows signs of slowing.

Bitcoin fell to $ 39,262 on the Bitstamp exchange. That’s about 30% above its Wednesday low, but just below its 200-day moving average. Rival cryptocurrency ether also came under pressure on Friday, falling 2% to $ 2,714.

Ether is down 24% for the week and bitcoin is down 15%.

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