Bitcoin, Ethereum, Ripple overview: Bears ran a perfect gambit on crypto bulls

Major cryptocurrencies are trying to recover from recent losses.
The market is deep in red on a day-over-day basis.

Major coins are trying to recover from early lows, but the market is still deep in red on a day-over-day basis. An overwhelming majority of top-20 coins shows double-digit losses amid strong bearish bias that gripped the market late on Sunday, after a failed attempt to stage a recovery.

Bitcoin (BTC) stays below $3,800 after growing as high as $4,187 on Sunday trading. The first digital coin dropped to $3,711 before recovering to $3,777 by the time of writing. Bitcoin’s market share has grown to 52.2% from the recent low of $51.4%.

Ethereum (ETH) is also under pressure. The second largest coin is dancing around $140.00 handle after testing waters at $133.60. ETH/USD has gained nearly 5% since the beginning of Monday, but it is still down 14% on a day-over-day basis. Ethereum is one of the worst-performing coins out of top-20 as the upcoming Constantinople update adds uncertainty to ETH trading.

Ripple’s XRP, the third largest coin, has lost over 9% since this time on Sunday to trade at $0.3050. A sustainable move below $0.3000 handle bodes will for the cryptocurrency, as it will signal the total reversal of the previous gains. At this stage, XRP is moving in sync with the rest of the market, influenced mostly by speculative sentiment and technical factors.

EOS, Litecoin, Bitcoin Cash and Cardano are also among the biggest losers, while TRON and Binance Coin show better results nursing losses of 4.5% and 6.7% respectively.

Share: Cryptos feed

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.