Overall, it was a mixed bag with 54 of the leading 100 digital currencies changing hands in the red on Monday morning
Cryptocurrencies started the week stagnant as the overall bullish run at the end of last month languished.
The king of digital currencies eased 0.4% lower to US$46,229, while its biggest cousin by market value, Ethereum, advanced 0.2% to US$3,505.
Naeem Aslam, Avatrade chief market analyst, said: “Consolidation is the only trend which comes to mind when one looks at the Bitcoin price.
“Traders are hoping that bulls will gather some momentum and they will get to see the price breaking the 50K price level.”
They were both trading approximately 30% below all-time highs reached in November as the omicron variant followed by Russia’s invasion of Ukraine sent uncertainty through riskier markets.
Cardano, Dogecoin and Internet Computer were the most noteworthy risers – up 3.3%, 2.7% and 4.9% respectively.
Meanwhile, Terra, Avalanche and Waves gave up 3.0%, 2.1% and 9.3% respectively.
Overall, it was a mixed bag with 54 of the leading 100 cryptos changing hands in the red on Monday morning.
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