Crypto market overview: Bitcoin (BTC) and major altcoins extend the decline

The major coins are losing ground during Asian hours on Monday.
Cosmos (ATOM) becomes the worst-performing cryptocurrency of the day.

Tanya Abrosimova Independent Analyst

Cryptocurrency market is back in the red zone with Bitcoin and the majority of major altcoins demonstrating solid losses. The total market capitalization has settled at $180 billion. The average daily trading volumes are registered at $45 billion.

Top-3 coins price overview:

Bitcoin is changing hands at $5,630 moving within a strong short-term bearish trend. The world’s biggest digital coin retreated from the intraday high of $5,527 and lost nearly 1.5% of its value since the beginning of the Asian trading on Monday. BTC has been declining for the second day in a row, following a string upside movement during the previous week.
Ethereum started Monday at $164.04, but quickly lost ground to trade at $161.84 by the time of writing. The second largest digital asset is also moving within a strong bearish trend with 1.4% gains since the start of the day.
Ripple’s XRP is hovering around $0.3000, mostly unchanged since the start of Monday session on Monday. The third largest coin attempted a move towards $0.3200, but the upside momentum faded away on approach to the strong resistance.

The biggest market-movers:

Cosmos (ATOM) is the biggest loser out of top-20 coins. It is changing hands at $4.76 as the market is correcting after a strong rally during the previous week.
Litecoin (ETH) has lost over 4% of its value since this time on Sunday to become the second fastest falling coin of the day. It takes the 5th position in the global cryptocurrency rating with the market value of $4.5 billion.
IOTA, Tezos, Cardano, Ethereum Classic, EOS, Monero and NEO are down over 3%, moving within the short-term downside trend.

Author

Tanya Abrosimova

Independent Analyst

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