Bitcoin prices are trading lower Friday, on track for back-to-back losing sessions for the first time since late October.

The world’s largest digital currency is creeping towards its lowest level of the week trading at $6,379.96, down 0.9% since Thursday at 5 p.m. Eastern Time on the Kraken exchange. A move below $6,330 for bitcoin

BTCUSD, -1.26%

 would mark a new low for the week.

Read: Bitcoin may be an unlikely winner in midterm elections

For Charles Hayter, co-founder of CryptoCompare it’s business as usual for crypto participants. “The $6k mark remains fairly solid, volumes are on the lighter side but we are still seeing some positive steps, albeit slowly,” he said, citing Fidelity’s decision to open a cryptocurrency trading business for institutional investors.

Hayter added that after the hype cycle of 2017, the market is slowly working its way out of the 2018 negative cycle.

Read: Fidelity launches cryptocurrency trading platform

Altcoins and futures moving lower

Altcoins, the group of more than 2,100 smaller coins other than bitcoin, were trading lower on Friday. Ether,

ETHUSD, -1.98%

the second-largest altcoin was down 1.4% at $209.66, Bitcoin Cash

BCHUSD, -4.81%

was off 1.8% at $578.00, Litecoin

LTCUSD, -3.25%

had lost 2.4% at $51.71 and XRP,

XRPUSD, -0.98%

was trading at 50 cents, down 0.5%.

Futures are looking at two losing sessions to close out the week. The Cboe Global Markets November contract

XBTX8, -1.36%

was down 1.1% at $6,355 and the CME Group November

BTCX8, -1.25%

was lower by 0.9% at $6,350.

Read: Bitcoin trapped in tighter range than Mexican peso, Brazilian real and other popular currencies

Providing critical information for the U.S. trading day. Subscribe to MarketWatch’s free Need to Know newsletter. Sign up here.



Please enter your comment!
Please enter your name here