Bitcoin, Crypto Prices Nurse Steep Losses as Risk Appetite Remains Frail

Bitcoin price moved little on Thursday as broader market volatility kept traders largely averse towards cryptocurrencies

Bitcoin price edged up on Thursday evening, but remained within a narrow range as broader market volatility kept traders largely cautious towards cryptocurrencies. XRP price rose sharply after a U.S. judge ordered issuer Ripple Labs to pay $125 million in fines to the Securities and Exchange Commission.

Bitcoin rose 0.2% to $56,934.9 by 01:48 ET (05:48 GMT). While the token did recover from lows of around $49,000 hit earlier this week, it still remained shy of levels seen before a crippling rout on Monday.

Bitcoin price remained under pressure this week after data showed slowing U.S. economic growth and rising Japanese interest rates battered risk-driven markets.

After hitting highs of nearly $63,000 last week, Bitcoin plunged to lows of around $49,000 on Monday as a sell-off in riskier assets began. 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