Market Wrap: As Bitcoin Steadies, Oil’s Turmoil Continues

Both bitcoin and oil were relatively calm Monday, but that when it comes to volatility over the past couple of months, it’s crude, the backbone of global industrialization, that’s seeing wilder swings as of late. 

Bitcoin (BTC) was changing hands around $9,575 as of 20:00 UTC (4 p.m. EDT), gaining less than a percent over the previous 24 hours. Despite a small rally of around $250 on Sunday, the world’s largest cryptocurrency by market capitalization still spent much of the weekend in the mid-$9,000s. 

“We are still waiting on a breakout above $10,055 as a positive catalyst,” said Katie Stockton, an analyst at Fairfield Strategies. Stockton sees signs of price appreciation in the near-term. “There is an upturn in one of my preferred gauges that suggests this week will have a bullish bias within the framework of neutral short-term momentum and positive intermediate-term momentum.”

The wait-and-see approach…