(Bloomberg) —
Bitcoin pulled back to $40,000 after climbing over the weekend to the highest levels since May.
The largest cryptocurrency was trading at $40,226 as of 8:28 a.m. in London after falling as much as 4.9% Monday. Other virtual coins including second-ranked Ether also fell. Analysts suggested profit-taking lay behind the declines.
This is “just a normal pullback following bullish action,” said Vijay Ayyar, head of Asia Pacific with crypto exchange Luno in Singapore.
The declines…
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