• BTC/USD is back below  $4,000 amid major crypto sell-off.
  • November has become the worst months for Bitcoin in seven years.

Bitcoin is hovering below $4,000 handle as bearish sentiments have gripped the cryptocurrency market on Monday. The first digital coin has lost 4.5% in recent 24 hours as resumed the decline after a short recovery during the previous week.

Meanwhile, November became the worst month for Bitcoin in the past seven years. The coin dropped from $6,361 on November 1 to $3,865 on November 30 and thus lost nearly $2,500 of its value in a month. In terms of percentage loss, it's the worst result since August 2011, when the coin dropped from $8 to $4.80.

Bitcoin's technical picture

From the short-term point of view, BTC/USD is capped by SMA200 (1-hour) at $3,983. Once this level is cleared, the upside may be extended towards critical $4,000 with the next strong resistance area at $4,100 created by a confluence of SMA50 and SMA100 (1-hour).

On the downside, the nearest resistance lies with congestion zone $3,900, which includes the Asian low of $3,911. Once it is cleared, the sell-off may continue towards $3,865 (November 30 low).

BTC/USD, 1-hour chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin bulls and bears standoff continue, someone has to give in

The cryptocurrency market is dominated by bearish sentiments during early Asian hours. Bitcoin and most altcoins out of top-20 are nursing losses on a day-to-day basis. Binance Coin (BNB) is the biggest loser, down 4%, while Tezos (XTZ) and Bitcoin Cash (BCH) is in a green zone.

More Cryptocurrencies News

Some XRP transactions involved in the financial pyramids

Analysts from Elliptic monitored XRP transactions and identified several hundred accounts related to illegal activities. the Block reports.

More Ripple News

Tron price analysis: TRX/USD must defend the falling channel for dear life

Tron is disintegrating within a falling wedge pattern. The declines come after a failed attempt to rise above the resistance at $0.023. A lower high and lower low pattern has been the norm in the last three weeks.

More TRON news

Bitcoin Cash price update: BCH/USD future is still bright, $300 is the rendezvous

Bitcoin Cash recently tested $230 during the slump that shuttered various tentative support areas including $280, $260 and $240. Ranging channel support ($270) was also broken. Following the drop, an effort has been made to ....

More Bitcoin Cash News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: In the middle of nowhere

Bitcoin has been drifting down since the beginning of the week, as the bulls have no luck with the recovery campaign launched during the previous weekend.

Read the weekly forecast

BTC

ETH

XRP