Cryptcurrencies failed to sustain a rally attempt [Video]

Cryptocurrencies attempted to advance in early Europe on Monday with bitcoin posting a fresh advance to above $40,000.

There was, however, selling interest on rallies with bitcoin dipping to just below $39,000 after failing to hold $40,000.

Underlying regulatory concerns continued to sap support and there was fresh selling pressure during the Asian session with bitcoin retreating to below $38.500.

Ether secured net gains in choppy trading and traded above $2,600 in late New York trading. Ether also came under pressure in Asia and dipped below the $2,500 level.