Bitcoin turned lower Friday afternoon, putting an upbeat milestone in jeopardy.
After rising as much as 3% on the day, the price of a single bitcoin BTCUSD, -0.94% �last changed hands at $7,352.38, down 0.9% since 5 p.m. Thursday on the Kraken exchange.
On the line is the asset��s longest win streak since June 2017, as the No. 1 digital currency, a naturally volatile asset, looked set to notch a succession of seven positive days.
According to data from charting service TradingView, since July 14 bitcoin has notched six consecutive winning days and a seventh would be the first time since June 6 of last year when a single bitcoin was worth less than $3,000.
BTC/USD (green denotes winning day) After making a fresh yearly low in late June, one that bitcoin pioneer Barry Silbert believes will be the low for 2018, the virtual currency has staged a broad turnaround, rising as much as 30% since the June 24 low.
Despite the recent change in fortunes for bitcoin holders, one analyst says further upside may be limited. ��I��m not getting too excited about the recent gains just yet, to me it still looks like a small corrective move with longer-term momentum very much against it,�� said Craig Erlam, senior market analyst at Oanda.
Erlam added that $10,000 remains a crucial topside level, but he��s not convinced it will trade this high soon.
Read: A 30% rally in bitcoin in less than a month has bulls eyeing $10,000 and beyond
Bitcoin is separating itself from the packBitcoin��s share of the entire digital currency market has reached a three-month high of 45.3%, according to data from CoinMarketCap.
The divergence continued Friday with major altcoins, coins other than bitcoin, trading lower. Ether ETHUSD, -4.78% is down 3.3% at $451.80, Bitcoin Cash BCHUSD, -4.82% has lost 4.5%, trading at $779.80, Litecoin LTCUSD, -4.44% is lower by 4.3% at $82.36 and Ripple��s XRP coin XRPUSD, -7.71% is trading at 45 cents, down 5.6%.
Bitcoin futures have tracked spot markets lower. The Cboe Global Markets Inc. for August XBTQ8, -1.47% is down 1.4% at $7,360 and the CME Inc. July contract BTCN8, -1.21% is down 1.4% to $7,345.
CryptoWatch: Check bitcoin and other cryptocurrency prices, performance and market capitalization��all on one
Aaron HankinAaron Hankin is a MarketWatch reporter in New York who covers cryptocurrency and financial markets.
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Comment Quote References BTCUSD -69.91 -0.94% ETHUSD -22.32 -4.78% BCHUSD -39.40 -4.82% LTCUSD -3.82 -4.44% XRPUSD -0.04 -7.71% XBTQ8 -110.00 -1.47% BTCN8 -90.00 -1.21% Show all references MarketWatch Partner Center Most Popular
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