Bitcoin Breaks to Low End of Trading Range, but June Data Could Be Next Catalyst

Barring a big late move, May will still go down as a strong month for the world's largest crypto.

The price of bitcoin (BTC) has traded in an exceptionally tight trading range surrounding $68,000 in the days following the U.S. Memorial Day holiday, but declined to near the week's low in Friday morning trading hours.

At 11:45 am ET, bitcoin was changing hands at $67,300, lower by 1% over the past 24 hours and down by more than 2% from two hours earlier when it briefly rose above $69,000. The broader CoinDesk 20 was down 1.1% over the last day.

May, though, has been strong for bitcoin, which is now higher by 11% since beginning the month at around the $60,000 level. That's underperformed the CoinDesk 20's roughly 20% advance, fueled by a 31% gain in the price of ether (ETH) thanks to the surprising regulatory turnaround in the prospects for a spot ETF for that asset.$BTC #TodayTopic