Bitcoin Stuck Around $63K

The excitement around Coinbase‘s direct listing appeared to be short-lived and bitcoin’s price movement appears to be stuck within the same range as a day ago when the big U.S. cryptocurrency exchanges shares started trading on Nasdaq.

• Bitcoin (BTC) trading around $63,462.44 as of 20:00 UTC. Climbing 2.14% over the previous 24 hours

• Bitcoins 24-hour range: $61,400.58-$63,464.66

• BTC trades above its 10-hour and 50-hour averages on the hourly chart, a bullish signal for market technicians

Coinbase shares (NASDAQ: COIN) soared to as high as $429.54 in its first hours of trading on Wednesday but closed at $328, below the initial opening price at $381.

The deflating passion was reflected Thursday in bitcoins spot trading activity: The daily spot trading volume from eight crypto exchanges tracked by CoinDesk dropped substantially, to below $2 billion, from near $5.5 billion on Wednesday.

Galaxy Digital CEO Mike Novogratz expressed his concerns about a broader market pullback to MarketWatch earlier Wednesday, adding that many “weird coins” have had huge volume spikes from retail traders.

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