Crypto prices traded down on Thursday as bitcoin flipped either side of $17,000 just 24 hours after reaching a two-week high.
Meanwhile, crypto stocks traded in a wide range during the day's session, led by declines for Silvergate.
Bitcoin failed to hold on above $17,000 for 24 hours, trading at $16,866 at 4:00 p.m. EST, falling 1.1% from yesterday. The leading cryptocurrency by market cap rose after a speech by U.S. Federal Reserve Chair Jerome Powell on Wednesday.
Ether was trading at $1,275, down 1.8% over the past 24 hours. Binance's BNB experienced a sharper sell-off in that time, dropping by 3.1%.
Crypto stocks and structured products
U.S. indices saw mixed fortunes on Thursday, with the S&P 500 closing down 0.09% and the Nasdaq 100 rising 0.1%.
Shares in crypto bank Silvergate fell sharply today, shedding over 7.8% to $25.27. The bank has been linked to BlockFi and FTX and revealed some exposure to both firms.
Coinbase shares dropped 0.9% on Thursday, changing hands for around $45.32, according to Nasdaq data.
Michael Saylor's MicroStrategy briefly traded above $200 today, for the first time since Nov. 9, before surrendering those gains. Shares in the company were trading at $198.94 at 4:00 p.m. EST.
Jack Dorsey's Block performed slightly better than its peers, gaining over 2% to trade at $69.15.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.