Bitcoin Tumbles Back Below $110K as Crypto Bounce Fails, Ether Plunges 8%
Most cryptos have taken out their Sunday flash crash lows late in the U.S. session on Monday.
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Market Wrap
Most cryptos have taken out their Sunday flash crash lows late in the U.S. session on Monday.
Galaxy, SharpLink, BitMine were among the names that plunged nearly 10% as risk appetite faded and bitcoin sunk to $113,000.
The Trump appointee overseeing the nation’s housing agencies said Freddie Mac and Fannie Mae should take mortgage applicants’ crypto holdings into account.
Crypto investors don’t seem fazed by the attacks.
Positioning across crypto markets doesn’t suggest a top, but neither does it seem ideal for continued rally.
One analyst characterized bitcoin’s recovery from last week’s decline as a “peaceful rally,” with buyers stepping in to support the uptrend.
The group may also be benefitting from a modest rise in the price of bitcoin on Tuesday.
The crypto market wobbled after Trump accused China of violating a tariff truce.
An already under pressure bond market took a further hit following a weak auction of long-term U.S. Treasury debt.
Cryptocurrencies reversed early losses as risk assets shrugged off the Moody’s U.S. debt downgrade.