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

04 Nov Bitcoin range-bound with bearish bias

Posted at 06:08h in Cryptocurrency News by

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  • Bitcoin (BTC) stays above $9,000, retreats from the recent high.
  • Altcoins are mostly bearish during early Asian hours.

The cryptocurrency market is mostly bearish on Monday as Bitcoin and all major altcoins are nursing losses during early Asian hours. The total cryptocurrency market capitalization settled at $246 billion; an average daily trading volume is registered at $70 billion; Bitcoin’s market share has stabilized at 67.4%.

Read also: Cryptocurrency market update: Major cryptocurrencies post modest losses on Sunday
Bitcoin price analysis: Stays in the range above the 200-day SMA

Top-3 coins price overview 

BTC/USD hit at $9,393 on November 2, but the bullish momentum faded away on approach to a strong resistance level located at $9,400. At the time of writing, the first digital coin is changing hands at $9,134, down 1.3% on a day-to-day basis. The coin is dangerously close to SMA200 (Simple Moving Average) daily located on approach to $9,100. Once…

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