RATE Group | Bitcoin bulls lick wounds after the weekend sell-off
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Bitcoin bulls lick wounds after the weekend sell-off

11 May Bitcoin bulls lick wounds after the weekend sell-off

Posted at 11:48h in Cryptocurrency News by

Here’s what you need to know on Monday

Markets:

BTC/USD is changing hands at $8,700, having retreated from the intraday high of $8,812. The coin has stayed mostly unchanged both on a day-to-day basis and since the beginning of Monday after a sharp collapse on Sunday. Now Bitcoin is trading within the strong short-term bearish bias amid high volatility.

At the time of writing, ETH/USD is changing hands at $188.25. The price tested a high of $191.25 during early Asian hours but reversed to the downside. The second-largest coin has barely changed in the recent 24 hours. Now ETH is moving within a short-term bearish trend. The volatility is shrinking.

XRP/USD is hovering at $0.1960 after a failed attempt to return to the area above $0.2000 during early Asian hours. XRP’s recovery is still blocked by this psychological barrier. A sustainable move above this area is needed for the upside to gain traction. XRP/USD is trading within a bearish trend amid low…

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