• Bitcoin drops below $4,000, amid a wave of sell-off.
  • Altcoins are following the lead.

The cryptocurrency market is back in the red zone as the recovery proved to be short-lived. The total capitalization of all digital assets in circulation is hovering around $130B amid resumed bearish pressure.

Bitcoin, the largest and the most popular cryptocurrency, has lost over 5% in recent 24 hours to trade at $3,945 by the time of writing. The coin is down nearly 4% since the beginning of Monday, trading with a strong bearish bias.

Ripple's XRP is hovering at $0.3596, down 2.7% since the beginning of Monday and 3.8% on a day-to-day basis. The second largest digital asset with market value $14.5B retraced from early Asian high of $0.3699, however, the short-term trend is showing signs of reversal.

Ethereum is changing hands at $112.8 at the time of writing, off the Asian high of $116.9. ETH stays well below the pivotal  $120, moving closer to $110.00. The third largest coin with the market value of $11.2B is down 4.4% in recent 24 hours and 3% since the beginning of the day.

What's going on in the crypto universe

Malaysia is about to adopt cryptocurrency regulation

Celebrities pay hefty fines for promoting ICOs 

Ledger Nano wallet adds Monero support

 

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Bitcoin price has continued to face increasing selling activity. The weekend session was not different as seller domination continued. BTC/USD extended the bearish leg further below $9,000 to the extent of testing support at $8,600. 

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ETH/USD recovery sabotaged above $200 as consolidation sets in

Ethereum recovers slightly to settle above $200 following a dip to $190 support. ETH/USD could entertain a sideways price action in the near term according to both the RSI and the MACD.

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XRP/USD bulls looking forward to a falling triangle breakout, all eyes on $0.21

Ripple price bounces off last week’s support at $0.19 but recovery stalls under $0.1950. XRP/USD is grinding towards a possible falling triangle breakout, targeting $0.21.

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Cryptocurrencies may weaken US dollar dominance

The adoption of digital currencies may undermine the leading positions of the US dollar in the global financial system, according to JPMorgan analysts. The US risks losing its dominant position in the global financial system.

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BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC bulls are nowhere to be seen

Bitcoin attempted a recovery towards $10,000 but ended up at $9,100. The first digital asset printed the second red candle on a weekly chart. It is an alarming signal for the long-term bull as BTC may be vulnerable to deeper losses.

Read the weekly forecast

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