Bitcoin
and other cryptocurrencies edged lower Monday but remained near recent highs. The reaction in cryptocurrencies to the dramatic production cut by the OPEC+ group of oil-producing nations offers important clues as to the next move in digital assets.
The price of Bitcoin has fallen less than 1% over the past 24 hours, changing hands around $28,350. At levels above $28,000—shy of its recent peak near $29,500—the largest digital asset is trading around its highest level since last June, when the crypto crash accelerated. It has rallied more than 70% so far this year in a bullish turn.