Cryptocurrency market sees decline as Bitcoin and Ethereum slip
cryptocurrency market experienced a decline in Monday's trading session, with Bitcoin slipping 2.3% to $62,300, while Ethereum fell 4.3% to $3,170.
In addition, the global cryptocurrency market cap decreased by 2.94% to approximately $2.31 trillion over the last 24 hours.
«Bitcoin failed to continue the relief rally after it crossed $67,000 briefly last week. Bitcoin’s current price momentum could be linked to low demand from Spot ETFs and negative sentiment among investors expecting a potential post-halving crash,» said Shivam Thakral, CEO of BuyUcoin.
"$59,600 is an important level bulls need to defend to prevent further downsides. A strong break and close above $65,000 could clear the path for a rise to $68,000 and then to $71,000," said Thakral.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View Details»Meanwhile, Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, said, «There seems to be a bearish trend forming for BTC, and we can expect some slow-moving days ahead. Immediate resistance is around $63.4k.»
Other major crypto tokens such as BNB (-2.2%), Solana (-5.2%), XRP
