RATE Group | The tug of war begins as Bitcoin and altcoins consolidate
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The tug of war begins as Bitcoin and altcoins consolidate

04 Feb The tug of war begins as Bitcoin and altcoins consolidate

Posted at 07:06h in Cryptocurrency News by

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  • Bitcoin price support a $9,200 starts to waver as the bears increase their tug of war strength.
  • Ripple bulls fight to defend $0.25 support and prevent a possible plunge towards $0.24 and $0.23 support areas.

The digital asset market is sending mostly bearish signals on the second day of trading this week. Bitcoin has slowed down the uptrend; so have the altcoins. Some of the previous biggest gainers such as IOTA, Bitcoin Gold and Ethereum Classic are correcting lower 0.82%, 3.78% and 0.58% in that order.

All of the top three cryptocurrencies Bitcoin, Ethereum and Ripple are struggling to shake off the bear pressure. Only selected cryptoassets are slightly in the green including Bitcoin Cash at 0.15% higher and NEO at 0.18 higher on the day.

The crypto market’s total cap has dropped by $3 billion from $261 billion on Mon day to $258 billion at the time of writing. CoinMarketCap data shows a total 24-hour trading volume of $103 billion. Bitcoin is still by…

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