Bitcoin Rally Faces Potential Test From Falling Market Liquidity
- Largest cryptocurrency, rival Ether hit records on the weekend
- JPMorgan says Bitcoin liquidity dropping amid climb in price
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The rally in Bitcoin that took the digital token to a fresh peak over the weekend could face a test from declining liquidity in the market for the largest cryptocurrency.
Bitcoin rose as high as $58,350 on Sunday before retreating to about $56,200 as of 2:30 p.m. in Tokyo on Monday. The token has roughly tripled in the past three months but its liquidity has deteriorated, according to Nikolaos Panigirtzoglou, a strategist at JPMorgan Chase & Co.