- Bitcoin and Litecoin lead the cryptocurrency market in declines on Monday.
- Bitcoin targets $8,000 if not $8,400 to create fresh demand for the action towards $10,000.
The crypto bears are in full swing in action after a weekend of consolidative movements. The slow weekend trading calmed the atmosphere within the crypto space after a devastating Friday price fall. The cryptos leading in declines on Monday include Bitcoin Gold (BTG) at 3.15%, Litecoin (LTC) at 3.15% and Bitcoin (BTC) at 3.10%.
In spite of the correction, the global crypto market is holding the market a bit higher at $240 billion compared to $239 billion on Sunday. The trading volume has also thinned to $74 billion from $80 billion in the same period.
Bitcoin price update
As mentioned, Bitcoin is trading more than 3% lower on the day. From an intraday high of $9,068 the price is teetering at $8,720. The downtrend market with high volatility means that the movement south has just started. Note that Bitcoin dived to levels under $8,700 on Friday before covering to $9,200. The slide under $9,000 could refresh $8,400 or even $8,000, in turn, creating fresh demand which could eventually send Bitcoin above $10,000.
Read more: Bitcoin price prediction: BTC/USD shifts focus to $8,400 – Confluence Levels
BTC/USD 240’ chart
-637090610856812975.png)
Ethereum and Ripple price update
The picture for Ethereum and Ripple's price performance is not different from that of Bitcoin. Ethereum is down 1.69% on the day while XRP is trading 2% lower. Particularly, Ripple is strongly bearish while its volatility is quite high. Last week XRP test $0.27 but recovered to $0.28. The prevailing bearish pressure is also focusing on $0.27 short term support.
On the other hand, Ethereum is trading $186 after touching $190.28 on the upside. After failing to sustain gains above $190, the bulls left the gate wide open for the bears. For now, the bulls have a task to defend $180 support which will help to launch the next attack on $200.
Read more: Ripple price update: Reignited bearish momentum targets $0.27
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Dogecoin and Bitcoin Cash Price Prediction: Funding rates decrease indicate weakness in DOGE and BCH
Dogecoin and Bitcoin Cash registered 3% and 8% losses on Tuesday following increased selling pressure from the futures market. The decline comes amid large-cap cryptos like Bitcoin, Ether and XRP, holding still with slight gains.
XRP could sustain rally amid growing ETF and SEC vote prospects
Ripple flaunted a bullish outlook, trading at $2.1505 on Tuesday. Investor risk appetite has continued to grow since the middle of last week, propping XRP for a sustainable upward move triggered by the swift decision by US President Donald Trump to suspend reciprocal tariffs for 90 days.
VeChain Price Forecast: VET bulls aim for a double-digit rally
VeChain price hovers around $0.023 on Tuesday after breaking above a falling wedge pattern the previous day; a breakout of this pattern favors the bulls. Bybit announced on Monday that VET would be listed on its exchange. Moreover, the technical outlook suggests rallying ahead, targeting double-digit gains.
Dogecoin, Shiba Inu and Fartcoin price prediction if Bitcoin crosses $100K this week
The meme coin market fell sharply on Monday, shedding 4.8% in market capitalization to settle at $49.25 billion, according to data compiled from CoinGecko. The sell-off coincided with increased volatility across broader crypto markets while investors rotated funds into Bitcoin briefly tested $85,000.
Bitcoin Weekly Forecast: Market uncertainty lingers, Trump’s 90-day tariff pause sparks modest recovery
Bitcoin (BTC) price extends recovery to around $82,500 on Friday after dumping to a new year-to-date low of $74,508 to start the week. Market uncertainty remains high, leading to a massive shakeout, with total liquidations hitting $2.18 billion across crypto markets.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.