Cryptocurrency markets declined modestly on Thursday, with Bitcoin trading near $90,000 despite gains in equities and fresh record highs in precious metals.
Summary
- Bitcoin hovered just below $90,000 and traded flat despite gains in equities and record highs in gold and silver.
- Ether declined even as BitMine Immersion accumulated a large amount of ETH, becoming a significant holder of total supply.
- Most major alternative cryptocurrencies were flat or slightly lower during Thursday’s session.
Bitcoin remained largely unchanged over a 24-hour period after declining earlier in the session, according to market data. The cryptocurrency failed to gain momentum despite a rebound in stock markets and record prices for gold and silver.
Ether, the second-largest cryptocurrency by market capitalization, fell during the trading period. The decline occurred even as BitMine Immersion acquired a significant quantity of Ether tokens over the past 24 hours, according to blockchain analytics firm Arkham.
BitMine Immersion, described as an Ethereum treasury company, now holds a substantial portion of the total Ether supply, Arkham reported.
Most major alternative cryptocurrencies traded slightly lower or remained flat during Thursday’s session, according to market data.
