Bitcoin price stumbles after breaking a technical barrier

Bitcoin price (BTC-USD) reached a two-week high on Sunday morning, 2.5% in London at 9:30 in the morning.

On Friday, it cleared a closely watched technical barrier, often the precursor to new earnings. It surpassed its average price for the last 50 days, which is generally considered to be a measure of speed.

The move also came after crypto watchers took to a leaked blog from banking app Revolution, which was spotted late last week by AltFi, which revealed that it moved bitcoin holdings outside of the app to some users of its premium products Preparing to be allowed to do.

This will challenge the status quo established by other platforms such as Robinhood and PayPal (PYPL), which prevent bitcoins purchased on their platforms from being taken elsewhere.

Business has been volatile in recent weeks after the token crossed $ 64,000 in mid-April. On Sunday morning it was trading at around $ 56,380 (£ 40,806).

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The price of bitcoin went up in London on Sunday morning. Chart: Yahoo Finance UK
The price of bitcoin went up in London on Sunday morning. Chart: Yahoo Finance UK
The volatility was a precursor to the listing of the cryptocurrency trading platform Coinbase. In April, Coinbase (COIN) became the first major crypto company to be listed on Nasdaq (^ IXIC).

The price of bitcoin has been sensitive in recent months, as governments and regulators have focused on the sector.

Meanwhile, Ethereum (ETH-USD) was up 1.6% on Sunday, boosting gains from Thursday’s rally that crossed the $ 2,700 level. The European Investment Bank (EIB) announced that it would launch its first digital bond on the crypto blockchain network. It was trading at $ 2,870 on Sunday.

The EIB, the lending arm of the European Union, in collaboration with Goldman Sachs (GS), Santander (SAN) and the Society to issue € 100 million (£ 86.8 million, US $ 121 million) in two-year digital note bonds. Technology used. General (GLE.PA).

It may have boosted Ethereum as it moves towards $ 3,000

By Alex Alena

Alex Alena has been the lead news writer at Cryptocurrency Updates. With a degree in communications, Matt has an uncanny ability to make the most complex subject matter easy to understand.