Bitcoin prices are trading lower Friday, on track for back-to-back losing sessions for the first time since late October.
The world’s largest digital currency is creeping towards its lowest level of the week trading at $6,379.96, down 0.9% since Thursday at 5 p.m. Eastern Time on the Kraken exchange. A move below $6,330 for bitcoin BTCUSD, -1.06% would mark a new low for the week.
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For Charles Hayter, co-founder of CryptoCompare it’s business as usual for crypto participants. “The $6k mark remains fairly solid, volumes are on the lighter side but we are still seeing some positive steps, albeit slowly,” he said, citing Fidelity’s decision to open a cryptocurrency trading business for institutional investors.
Hayter added that after the hype cycle of 2017, the market is slowly working its way out of the 2018 negative cycle.
Read: Fidelity launches cryptocurrency trading platform
Altcoins and futures moving lower
Altcoins, the group of more than 2,100 smaller coins other than bitcoin, were trading lower on Friday. Ether, ETHUSD, -1.84% the second-largest altcoin was down 1.4% at $209.66, Bitcoin Cash BCHUSD, -4.19% was off 1.8% at $578.00, Litecoin LTCUSD, -2.57% had lost 2.4% at $51.71 and XRP, XRPUSD, +0.14% was trading at 50 cents, down 0.5%.
Futures are looking at two losing sessions to close out the week. The Cboe Global Markets November contract XBTX8, -1.21% was down 1.1% at $6,355 and the CME Group November BTCX8, -1.01% was lower by 0.9% at $6,350.
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