- Bitcoin (BTC) crashed below $8,900 amid strong bearish sentiments
- Altcoins are mostly range-bound with bearish bias during early Asian hours.
Bitcoin and all major altcoins are in retreat during early Asian hours after a recovery attempt on Sunday. The total cryptocurrency market capitalization has not changed since this time on Wednesday. It is registered at $245 billion, the worth of the digital asset of $73 billion change hands daily on average. Bitcoin's market share dropped to 66.3%.
Top-3 coins price overview
BTC/USD hit the intraday high at $9,063 during early Asian hours and retreated to the area below $8,900 by the time of writing. The first digital coin has lost over 1% of its value on Monday, thought it is still in the green zone on a day-to-day basis. On the intraday charts, SMA50 (Simple Moving Average) on 15-min chart (currently at $9.030) served as a reversal point for BTC/USD. Unable to pass this barrier, the price reversed to the downside and slipped below SMA100 15-min.
Ethereum, the second-largest digital asset with the current market capitalization of $20.5 billion, is changing hands at $187.60 amid increased downside pressure. ETH/USD has gained about 1.5% since this time on Sunday and lost over 1% since the beginning of the day. Looking technically, ETH/USD may extend the downside towards $186.50 (SMA200 15-min chart).
ETH/USD, 15-min chart
Ripple’s XRP moved below $0.2800 handle. The third digital coin with the current market value of $12.1 has been in retreat after a failed attempt to settle above $0.3000 barrier. At the time of writing, XRP/USD is trading at $0.2760 and the downside momentum is gaining traction.
XRP/USD, 15-min 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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.