24/01/2022
Bitcoin, ether and the broader crypto market faced another wave of selling during Monday's European hours as U.S. stock index futures erased early gains, signaling an extension of last week's risk declines.
Bitcoin fell to $33,600, the lowest level since July 24, even as technical indicators signaled oversold conditions.
The leading cryptocurrency has declined 27% this month and is struggling to find a price floor with whales or large investors staying on the sidelines.
Ether, the second-largest cryptocurrency, slid 10% to $2,270, the lowest since July 28, according to CoinDesk data. The native token of Ethereum's blockchain has lost 38% this month.
Ether could soon see a bitcoin-like death cross, a bearish cross of the 50- and 200-day moving averages. Bitcoin has dropped over $10,000 since confirmation of the negative crossover earlier this month.
Other prominent coins like Solana' SOL, Cardano's ADA and Polkadot's DOT fell 12% to 15%.