Market Wrap: Cryptocurrencies Pull Back as Traders Remain Cautious

Market Wrap: Cryptocurrencies Pull Back as Traders Remain Cautious
Bitcoin dipped below $43,000 on Thursday, suggesting a slowdown in buying activity.The cryptocurrency’s price is roughly flat over the past week, compared to a 3% decline in ether. Price movements among some alternative cryptocurrencies (altcoins) have been choppy over the past week, especially relative to BTC, which could reflect some uncertainty among traders.”It seems that many have been hedging and decreasing exposure to crypto in recent weeks in anticipation of [the U.S. consumer price index] releasing on Wednesday, who are now having to buy back,” Marcus Sotiriou, an analyst at the U.K.-based digital asset broker GlobalBlock, wrote in an email…