Bitcoin’s Price Is Slipping Back. This Week Could Be a Big Test. | Barron’s

Bitcoin

and other cryptocurrencies slipped Monday. After an extraordinary period for crypto prices, traders face another week of catalysts that could test the resolve of bulls who have notched big gains this year.

The price of Bitcoin has fallen 2% over the past 24 hours to $22,800. Bitcoin is up almost 40% so far in 2023—hitting six-month highs above $24,000 in recent trading—amid a rally in digital assets driven by improved risk sentiment among investors and optimism that the worst of a brutal “crypto winter” is over. While Bitcoin remains around just a third of its late-2021 high, it is now firmly above the two-year lows of the bear market, around $15,500, seen late last year.