As Amazon denies payment rumours, Bitcoin pulls back from recent highs.

After Amazon (AMZN) denied a report that it was considering accepting cryptocurrencies as payment, Bitcoin (BTC-USD) has fallen from recent highs.

On Monday, bitcoin and other cryptos rose on reports that Amazon was planning to accept digital currency.

A job listing for a "Digital Currency and Blockchain Product Lead" was recently placed on Amazon. On Sunday night, the London newspaper CityAM reported that Amazon was planning to accept bitcoin, ethereum, Cardarno, and BitcoinCash.

Amazon issued a statement late Monday denying the CityAM storey.

"Despite our interest in the space," an Amazon spokeswoman told Yahoo Finance UK, "the speculation that has ensued surrounding our specific plans for cryptocurrencies is not genuine." "We're continuing to look at what this could mean for Amazon customers shopping."

On Monday, bitcoin reached a high of $40,000 (£28,954) before falling after Amazon's announcement. By 8.15 a.m. in London, the world's largest digital currency had risen 4.3 percent to $37,087.

The bitcoin market as a whole was also in decline. Ethereum (ETH-USD) was down 6.8% to $2,200, while Cardarno (ADA-USD) was down 8.5 percent to $1.25 and BitcoinCash (BCH-USD) was down 6% to $476. According to statistics aggregator CoinMarketCap, the cryptocurrency market has lost 5.2 percent of its value in the last 24 hours.

While bitcoin and other cryptocurrencies were down from their highs on Monday, they were still trading above where they were on Sunday night. According to analysts, the Monday increase spurred a wave of purchasing from traders who had been shorting bitcoin and were now looking to liquidate their positions.

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