The most popular cryptocurrency, bitcoin (BTC), failed to continue higher today and moved below the USD 20,000 level again. The second most popular cryptoasset, ethereum (ETH), also dropped, erasing all its daily gains.
At 15:09 UTC, BTC trades at USD 19,776 and is down 2% in a day. The price briefly reached USD 20,500 earlier today. Meanwhile, ETH is now unchanged in a day, after dropping from almost USD 1,600 to USD 1,523.
Also, BTC is down 8% in a week, while ETH lost 6% of its value. All top altcoins also dropped in the past hour, erasing their daily gains.
"Near-term weakness continues to haunt numerous Bitcoin fundamentals, with prices faltering amidst minimal excess sell-side pressure. Investors who are spending appear to be taking advantage of any and all exit liquidity offered," crypto analytics firm Glassnode said in their latest report.
Meanwhile, Bendik Norheim Schei, Head of Research at Arcane Research, noted that BTC is now trading below its 200-week moving average...
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