The cryptocurrency market will continue to struggle with beards grip on the market, mostly due to market capital of total crypto assets in circulation went down by more than $5 billion worth over the weekend.
With the range bound being represented by all significant assets across the week, Bitcoin, Ethereum and other major cryptocurrency saw a sharp fall during the weekend moving near 2-week lows as caution among investors continue to grow with each day that goes by.
Bitcoin fell below $3600 handle during the weekend, testing new 2019 lows post which has been maintained a range bound action near $3550 handle. Currently, Bitcoin is trading at $3,558 by 4.83% on Monday.
Further downside move in the immediate future has been prevented as crypto market found some news driven momentum following the announcement that the United Nations has partnered with iOTA for its Project Services.
Ethereum has lost over 5.6% on Monday, trading somewhere at $117 after breaching multiple critical resistance price levels over the end of the week and the weekend. Currently, investors are waiting for further updates from the core development team, which should be revealed later today after new proceeding and details regarding network upgrade.
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