Bitcoin retreats for second straight session on low demand

Bitcoin retreated on Tuesday for another session on profit-taking away from three-week highs, while investor demand weakens anew amid a lack of incentives to buy and support prices. 

At Bitstamp, Bitcoin shed 0.85%, or $31 to $3,558, with an intraday high at $3,591, and a low at $3,548.

Bitcoin lost 1.7% yesterday, the second loss in three days on profit-taking after marking three-week highs at $3,711 on Friday. 

Market value of cryptocurrencies fell a billion dollars on Tuesday to a total of $120 billion, as most cryptocurrencies lost ground, and after hitting $123 billion yesterday, the highest since January 20. 

Intercontinental Exchange CEO Jeffrey C. Sprecher said he expects the Bakkt platform to start operations later this year. 

That's a delay from the initial timeline in the first quarter of the year, as talks continue with the Commodity Futures Trading Commission. 

Otherwise, Tom Lee, a notable Wall Street analyst and crypto supporter, said he sees nine gradual improvements in the market that would prop up prices eventually.