Crypto wrap: Market volatile on profit booking after last week’s rally

The cryptocurrency markets remained volatile, trading in the range of $29,500 to $31,200 as investors booked profits after last week’s rally. On Friday, Bitcoin was trading at $29,781, over 4.5 per cent down in the last seven days, according to data from CoinMarketCap.

Ethereum, the second largest crypto token by market cap, was trading at $1,888, over 5.5 per cent down in the last seven days.

During the week, Bitcoin touched its one-month low of $29,500.

“Following last week’s rally, this week has been a little volatile. Over the past 24 hours, Bitcoin has continued to trade below the US$30,000 mark for yet another consecutive day, influenced by various factors.