Bitcoin Drops Back Within Recent Trading Range; Altcoins Decline

Bitcoin edged lower for the fifth time in six trading sessions, though the cryptocurrency continued to linger near the closely watched $22,000 price level.

The largest digital token fell as much as 5.1% on Monday and was exchanging hands at $22,154 as of 4:18 p.m. in New York. Ether slumped as much as 9.5% after outperforming Bitcoin for much of July. Smaller virtual coins like Avalanche and Solana also nursed larger declines.