Bitcoin traded below a key psychological level on Monday evening, while other major coins also slid, as the global cryptocurrency market declined 4.05% to $888.7 billion at press time.
Price Performance Of Major Coins
Coin
24-hour
7-day
Price
Bitcoin (CRYPTO: BTC)
-3.9%
-1.3%
$19,981.91
Ethereum (CRYPTO: ETH)
-6%
-4.8%
$1,097.13
Dogecoin (CRYPTO: DOGE)
-7.7%
-11.2%
$0.06
Top 24-Hour Gainers (Data via CoinMarketCap)
Cryptocurrency
24-Hour % Change (+/-)
Price
Arweave (AR)
+3.9%
$12.02
Loopring (LRC)
+1.35%
$0.11
Dai (DAI)
+0%
$1
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Why It Matters: Bitcoin traded below the $20,000 mark, while Ethereum was close to slipping below $1,000 at press time as sentiment around risk assets deteriorated yet once again.
Cryptocurrencies tracked weaker equities on Monday, as major U.S. indices S&P 500 and Nasdaq ended 1.15% and 2.26% lower.
Futures for the S&P 500 and Nasdaq were, however, up 0.04% and 0.01%, respectively, ahead of earnings announcements from major companies.
“Another bear-market rally has come and gone and we now head into earnings season and another week of major economic reports fearful of what may lie ahead. The U.S. inflation data midweek is a standout, as investors cross their fingers for signs of decelerating prices,” said OANDA senior market analyst Craig Erlam, in a note seen …
Full story available on Benzinga.com