Bitcoin Price (BTC) on Track for First Monthly Loss of the Year

Bitcoin (BTC) climbed above $28,000 after an agreement on a deal to raise the U.S. debt ceiling, but the crypto still appears on track for its first monthly loss since December. The leading cryptocurrency by market value traded as high as $28,400 late Sunday, up from about $25,900 the previous week. At press time, bitcoin is changing hands at just under $28,000. Prices, however, were still down about 5% for May in what would be the first monthly decline of the year, assuming things hold through Wednesday. Ether (ETH) at the moment is up modestly in May after trading in a tight range for most of the month. Analyst Matteo Bottacini at Crypto Finance AG said in a morning note that he sees potential for ether and other altcoins to outperform thanks to positive narratives surrounding the Ethereum network, such as the all-time high in staked ether.