Bitcoin Price Falls. Why Analysts See Crypto Volatility Ahead. — Barrons.com

By Elsa OhlenBitcoin fell slightly as other cryptocurrencies rose early Tuesday, while the stock market looked set to open lower.The price of the world's largest digital coin was down 0.2% over the last 24 hours to $105,286, according to CoinDesk data. While not a big move itself, especially not for the relatively volatile asset class of cryptos, it contrasted with smaller coins.Ether rose 4.2% to $2,615, and the second largest coin by market value is now up about 40% in the past 30 days. XRP and Solana rose 1.3% and 2.9%, respectively."An important reason behind the current [Bitcoin] pullback is profit-taking which has been aggressive for the past week, with current unrealized profit in the Bitcoin market higher than average," Bitfinex analysts said Tuesday.There's an "increasing probability of short-term turbulence, as some participants may begin to offload holdings in response to substantial gains," they added. "This behaviour can lead to sharp intraday swings and potential local tops unless sustained demand continues to offset realized profit-taking."Futures tracking the S&P 500 and the Nasdaq 100 both fell 0.5% ahead of the open Tuesday.In other crypto news, online trading platform Robinhood completed its acquisition of specialized crypto exchange Bitstamp. The acquisition introduces Robinhood's first institutional crypto business, Bitstamp said Monday.Circle, the issuer of the USDC stablecoin, also raised its price and range of its initial public offering late Monday.Write to Elsa Ohlen at [email protected] content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.