RATE Group | Bitcoin and altcoins range-bound with bearish bias
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Bitcoin and altcoins range-bound with bearish bias

03 Dec Bitcoin and altcoins range-bound with bearish bias

Posted at 06:20h in Bitcoin News by

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  • Bitcoin (BTC) is moving down within the range.
  • Altcoins are moving in sync with the first digital currency.

The cryptocurrency market is bleeding again. Bitcoin and all major altcoins are nursing losses during early Asian hours amid growing bearish sentiments. The total cryptocurrency market capitalization dropped below at $199 billion from $202 billion this time on Monday; an average daily trading volume stayed unchanged at $59 billion. Bitcoin’s market share edged higher to 66.5%.

Top-3 coins price overview 

BTC/USD has been hovering around $7,300 since the beginning of the week. The coin touched an intraday high at $7,406; however, the upside momentum could not be sustained and Bitcoin slipped back below $7,300. The local support is created by the lower line of 1-hour Bollinger Band a5 $7,250. Once it is out of the way, the sell-off is likely to gain traction with the next focus Monday’s low of $7,156 and psychological $7,000.

BTC/USD, 1-hour chart

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