#BTC $BTC

Bitcoin backs off two-week high on profit-taking

Bitcoin lost ground on Thursday and moved away from two-week highs on profit-taking, as US 10-year treasury yields rebounded, in turn hurting risk appetite.

Markets now await Fed Chair Jerome Powell’s remarks in Jackson Hall, which could include clues about the future of US interest rates.

The Price

Bitcoin fell 2.3% at Bitstamp today to $59,774, with a session-high at $61416.

On Wednesday, bitcoin rallied 3.65%, the second profit in three sessions, marking two-week highs at $61838.

Crypto Market Value

Crypto market value fell by over $30 billion on Thursday to a total of $2.218 trillion, as both bitcoin and ethereum lost ground.