Bitcoin ends five straight sessions of losses as investors pause selling
Bitcoin ended a five-day losing streak, ending the session up 2.5% at $37,250. Earlier in the session, bitcoin had fallen to around $32,900, its lowest in nearly six months.
In addition to bitcoin, U.S. stocks also rallied late Monday. The Dow was down more than 1,000 points and the Nasdaq was down nearly 5% at one point during Monday's session, but the three major U.S. stock indexes pulled up quickly in late trading hours and eventually turned red.
Katie Stockton, founder of technical analysis firm Fairlead Strategies, said bitcoin will close above the $37,400 level this week, a support level that could determine whether this decline is a short-term correction in an uptrend or the start of the next bear market.