Bitcoin and other cryptocurrencies edged lower on 11 August, with digital assets continuing a pattern of stagnant trading that seems to be unnerving market participants. Even optimism about a major catalyst may be fading.

The price of bitcoin has fallen less than 1% over the past 24 hours to $29,350. The largest crypto continues to languish below the psychologically important $30,000 level, which had provided support for months before bitcoin dropped below it in late July.