Asia Pacific

First Mover Asia: Bitcoin Sees Little Movement After Light Weekend Trading

Bitcoin moved little on Sunday after another weekend with light volume, while tokens associated with gaming saw a price bump.

Bitcoin and ether fell sharply after the company formerly known as Facebook said its virtual/augmented reality division lost $10 billion in 2021.

Bitcoin and most major altcoins were in the green, although trading was lighter than on Monday.

Prices for bitcoin, ether and most major altcoins rise after a month of steep price declines.

Crypto trading was light and could remain so in Asian markets as many investors celebrate the Lunar New Year holiday week.

Bitcoin drops below $37,000 after soaring to nearly $39,000 following remarks by Federal Reserve Chairman Jerome Powell.

Ether was roughly flat, while other major altcoins were mixed.

Bitcoin's spike coincided with gains in U.S. equity markets, but the correlation between the two remains unclear.

But investors are still unclear whether crypto will continue to follow trends in equity markets or is an uncorrelated asset.

The largest cryptocurrency by market capitalization plummets below $41,000 after rising earlier in the day.

Pageof 90