Bitcoin and Ethereum Struggle to Recover, YFI Rallies
Bitcoin price struggled to stay above the USD 47,500 level. BTC extended decline and traded below USD 47,000. It is currently (11:55 UTC) facing an increase in selling and there is a risk of a move towards USD 46,500.
Similarly, most major altcoins are gaining bearish momentum. ETH traded below USD 3,920 and the next key support is near USD 3,650. XRP might correct below the USD 0.80 support. ADA may possibly revisit the USD 1.20 support zone.
Total market capitalization
After another failure above USD 49,000, bitcoin price started a fresh decline. BTC traded below the USD 48,000 and USD 47,500 levels. It is showing bearish signs and there is a risk of a move below USD 46,500. In this case, the price could slide towards the USD 45,500 support.
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