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Bitcoin Price and Ethereum to Gain Support at 38.2% Fibonacci Level; Litecoin Jumps 23%

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cryptonews.com

On November 25, Bitcoin, the leading cryptocurrency, failed to break above the $16,800 level and began to fall toward the 38.2% Fibonacci retracement level.

Similarly, Ethereum, the second most valuable cryptocurrency, has followed Bitcoin's lead and is currently trading bearishly toward $1,160.The reason for the market's risk-off sentiment could be related to recent Hodlnaut updates.According to Bloomberg news, the Commercial Affairs Department, the Singapore police's white-collar crime unit, is investigating Hodlnaut, a Singapore-based crypto lender that is currently under interim judicial management.Major cryptocurrencies were trading unevenly early on November 25th, as the global crypto market cap fell 1% to $828.27 billion on the previous day.

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