First Mover Asia: Bitcoin Drops to $56.5K After Brief Rally; Ether Also Falls

Posted on by American Coins & Gold

First Mover Asia: Bitcoin Drops to .5K After Brief Rally; Ether Also Falls
Good morning. Here’s what’s happening this morning:Market moves: Bitcoin rallied in early trading on U.S. markets before dropping.Technician’s take: Short-term downside is likely into the Asia trading day.Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis.PricesBitcoin (BTC): $56,452 -4.6%Ether (ETH): $4,107 -5.1%Market movesAfter picking up slightly earlier in the day, bitcoin continued its recent downward trend. At the time of publication, the cryptocurrency was trading above $56,500, down more than 4% over the past 24 hours. Ether followed a similar pattern, rallying before dropping to about $4,100. The cryptocurrencies and equities markets initially…