Bitcoin falls below $64,000
As the cryptocurrency market continues to search for direction, Bitcoin has fallen below $64,000.
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Bitcoin fell 0.8 percent in early trading to $63,863. The price of Ethereum also traded down 0.44 percent at $1,725.35.
Apollo Crypto Portfolio Manager Pratik Kala stated that there is no strong catalyst in the cryptocurrency market to establish a clear direction and that trading volumes do not yet point to a definitive breakout.
Kala noted that prices are expected to remain within a limited range until Friday, when the largest group of Bitcoin options is set to expire.
Stating that investors are closely watching whether Bitcoin can reach the $67,000 level, Kala noted that surpassing this level would be critical in determining the next directional move.