Bitcoin consolidates near $86,000 as rally narrows and Brent slips below $100
Thirty-eight of the 100 CoinDesk 100 constituents were lower on the day, with bitcoin cash up 32% over 24 hours on a CME futures listing.
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- Bitcoin traded at $86,379, up 0.24% since midnight UTC, with daily volume down 36% to $38 billion after Monday’s breakout.
- Breadth has narrowed sharply, 38 of 100 CoinDesk 100 constituents lower on the day against 13 over the rolling 24 hours, placing the weakness in the past few hours.
- Brent crude fell below $100 for the first time since Sept. 9 on hopes of a U.S.-Iran deal, taking the last of the energy-driven inflation scare out of the picture.
is consolidating on Wednesday after an explosive breakout on Monday, trading at $86,379 in the European morning, up 0.24% since midnight UTC and 1.3% over 24 hours as daily trading volume dips by 36% to $38 billion.
Beneath the surface the rally has narrowed sharply, with 38 of the 100 CoinDesk 100 constituents lower on the day, even as the index itself rose 0.67% to 1,926.99. Over the rolling 24 hours the picture is still broad, 87 higher and 13 lower, which places the weakening firmly in the past few hours rather than on Tuesday.
The majors have split rather than moved together, XRP (XRP) adding 3.3% to $1.62 and bitcoin cash
slipped 0.089% to $2,750.24 as chainlink
lost 0.0053%.
