Bitcoin steadies near $78,500 as rally loses momentum
Translated from Korean and summarized by DistantNews. Read the original for the full story.
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- Bitcoin traded at $78,555, up 0.91% over 24 hours, according to CoinMarketCap data cited by the report.
- The cryptocurrency had risen more than 24% the previous week and briefly exceeded $80,000, but its upward momentum has since slowed.
Bitcoin was holding near $78,500 as its recent surge began to lose speed.
At 8:30 a.m., the cryptocurrency traded at $78,555, up 0.91% from 24 hours earlier, according to global cryptocurrency market website CoinMarketCap.
Bitcoin had climbed more than 24% during the previous week and briefly moved above $80,000. The advance then eased as markets weighed the possibility of additional U.S. interest-rate increases and a weak stock market.
About this summary
Originally published by Chosun Ilbo in Korean. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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