Cryptocurrencies
Bitcoin Declines Below $7,000, Leading Cryptocurrency Retreat
- Digital-asset tumbles after rising almost a third in July
- Crypto bear Jamie Dimon reiterates disdain for virtual coins
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Bitcoin slipped below $7,000 to its lowest level in three weeks, as seemingly positive sentiment surrounding the largest virtual currency soured over the weekend.
The digital token fell as much as 6 percent to trade with a $6,000-handle for the first time since July 17. Last month’s renewed exuberance, which saw it rise by almost a third, appears to be fading against the backdrop of a challenging technical picture. A series of lower-highs show how rallies have repeatedly failed to build momentum.