Bitcoin drifts lower, bears aim at $8,000
The first cryptocurrency shocked the market with the sharp sell-off. Bitcoin lost over $1,000 of its value in a matter of hours and dropped below $8500 for the first time since the beginning of summer. Moreover. the market capitalization dropped by $30 billion. It is worth noting, that the sell-off coincided with positions liquidation on BitMEX worth of $710 million.
Ethereum technical analysis: ETH/USD vulnerable under $180
Ethereum price is trading in the green, up some 1.40% in the second half of the session.
ETH/USD bears have forced the price to give up a critical area of demand around the $180 price territory.
The price is potentially at risk of its sixth consecutive session in negative territory.
Ripple’s XRP technical analysis: XRP/USD heading for big $0.20 test
Ripple’s XRP price is trading up with marginal gains of 1.25% in the session.
XRP/USD has been falling for the past six consecutive sessions, bulls attempting to stage a rebound, but downside vulnerabilities remain.
The bears forced a breach of the critical $0.2500, which leaves the door open to a $0.2000 return.
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