Bitcoin holds near $90,000 as stocks rebound, gold hits record

Cryptocurrency markets declined modestly on Thursday, with Bitcoin trading near $90,000 despite gains in equities and fresh record highs in precious metals.

Bitcoin remained largely unchanged over a 24-hour period after declining earlier in the session, according to market data. The cryptocurrency failed to gain momentum despite a rebound in stock markets and record prices for gold and silver.

Ether, the second-largest cryptocurrency by market capitalization, fell during the trading period. The decline occurred even as BitMine Immersion acquired a significant quantity of Ether tokens over the past 24 hours, according to blockchain analytics firm Arkham.

BitMine Immersion, described as an Ethereum treasury company, now holds a substantial portion of the total Ether supply, Arkham reported.

Most major alternative cryptocurrencies traded slightly lower or remained flat during Thursday’s session, according to market data.