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Cryptos: Crypto prices drift lower, but holding inside short-term ranges

Major digital currency prices drifted lower on Wednesday, erasing the small gains made on Tuesday, but holding inside recent tight ranges.

Bitcoin, BTCUSD, +0.08% the best-known cryptocurrency, was changing hands at $3,845.80, down 0.6% since Tuesday’s level at 5 p.m. Eastern time on the Kraken exchange. The digital currency has yet to trade outside the $3,400 – $4,400 range this year.

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What are analysts saying

“It’s good to see the SEC taking a more rational approach to crypto,” wrote Gavin Smith, CEO of Panxora, a cryptocurrency trading platform, speaking after Securities and Exchange Commission Chairman Jay Clayton reaffirmed the agency’s stance that Ether is not a security.

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