Bitcoin Slips After Best Month of 2022 as Traders Weigh Recovery

Bitcoin declined after reaching the highest levels since mid-June on Saturday amid optimism that the market may have recovered from its worst levels.

The largest cryptocurrency dropped as much as 3.6% to $22,958 on Monday after breaking above $24,000 over the weekend, its highest since mid-June. Its 27% gain in July made for the best month since October. Ether slid more than 5% at the start of the week as well after posting a 70% jump last month, its best since January 2021.