- Bitcoin (BTC) breaks to new multi-month lows in Asia.
- Altcoins retain downside bias, following the lead of the first digital currency.
The cryptocurrency market has resumed the sell-off during early Asian hours after a short consolidation on the weekends. Bitcoin and all major altcoins are nursing losses on a day-to-day basis. The total cryptocurrency market capitalization crashed to $2180 billion; an average daily trading volume is increased to $113 billion. Bitcoin's market share settled at 66.3%.
Top-3 coins price overview
BTC/USD dropped below $6,600 to trade at $6,570 at the time of writing. The first digital asset has lost over 9% on a day-to-day basis and 5% since the beginning of Monday. The next important support is located on the approach to $6,500. A sustainable move below this barrier will trigger the sell-off towards $6,000.
BTC/USD, 1-hour chart
Ethereum's bearish trend is gaining speed. The second-largest digital asset with the current market capitalization of $14.5 billion, has settled at $133.00 after a recovery attempt towards $143.00 during early Asian hours. At the time of writing, ETH/USD down 11% on a day-to-day basis and 5% since the beginning of the day.
ETH/USD, 1-hour chart
Ripple's XRP has come dangerously close to $0.2000 during early Asian hours. At the time of writing, XRP/USD is trading at $0.269, down 10% in recent 24 hours. The recovery above $0.22 (the middle line of 1-hour Bollinger Band) will mitigate the initial bearish pressure. The critical support is created by a psychological $0.2000.
XRP/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.