Bitcoin prices stabilized on Monday after a sharp decline over the weekend, pulling back from recent highs as investors focus on upcoming U.S. interest rate signals.
The world's largest cryptocurrency had reached as high as 72,000 dollars last week, nearing record highs from March. However, a rebound in the dollar prompted significant profit-taking and market weakness from Friday.
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Despite the dip, the leading cryptocurrency remains above 57,000 dollars, reflecting a cautiously optimistic market sentiment.
The broader cryptocurrency market also experienced steep losses over the weekend, driven by concerns over high interest rates and profit-taking after gains in May.
Ether, the second-largest cryptocurrency, steadied at 3,680.01 dollars on Monday after losing nearly 4% on Friday.