Crypto markets falling back on Monday; BSV, XRP, and Tron dropping back, Litecoin and NEO stay afloat.
Crypto markets are seeing red as we begin another trading week. Most of the majors are in decline following Bitcoin’s failure to hold gains and break $8,000. Total market capitalization has dropped below $250 billion and is poised to fall further as the selloff accelerates.
Bitcoin has dumped 2.5 percent on the day falling from just under $8k down to support at $7,500. BTC recovered a little during early Asian trading but is still down on the day trading at around $7,700. A big bearish signal was given by the weekly candle which was biggest drop since December at almost 11 percent.
As expected Ethereum is faring no better with a slide of over 3 percent down to $235. There is strong support around the $210 area and it could soon be there if analysts are correct.
The rest of the top ten is in the red as crypto declines increase. Bitcoin SV has dropped the most at over 6 percent falling back to $183. XRP is not far behind with over 4 percent lost as the Ripple token falls below $0.40 again. Bitcoin Cash, Binance Coin and Stellar are not doing much better. Litecoin has remained steady as halving fomo continues to drive LTC higher.
Top twenty losses are marginally greater with Tron dumping the most at over 5 percent. IOTA, Cosmos and Ethereum Classic are all losing around 3 percent and NEO is the only altcoin in the green adding 2 percent to remain over $12.
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