RATE Group | Bitcoin resumes the decline, $8,500 under threat
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Bitcoin resumes the decline, $8,500 under threat

20 Jan Bitcoin resumes the decline, $8,500 under threat

Posted at 14:09h in Bitcoin News by

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  • The cryptocurrency market has resumed its decline on Monday.
  • Bitcoin is at risk of an extended sell-off if $8,500 is sustainably broken.

Cryptocurrency bears are getting bold as Bitcoin and major altcoins have been in retreat after a strong growth on Sunday. The cryptocurrency market capitalization decreased to $235 billion, while an average daily trading volume reduced to $99 billion. Bitcoin’s market dominance settled at 66.5%.

Bitcoin (BTC) price update

The largest cryptocurrency by market capitalization retreated from Sunday’s high of $9,184 to $8,564 by press time. The coin has resumed the decline after a short period of sidelined trading and dropped below SMA200 1-hour at $8,600. Now the recent low of $8,479 in focus. BTC/USD is unchanged on a day-to-day basis and down 1.5% since the beginning of the day.

BTC/USD 1-hour chart

Ethereum (ETH) price update

Ethereum hit $179.10 on January 18 only to drop back to $162.35 by the time of writing. The…

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