The selloff in cryptocurrencies continued to start the week, with bitcoin falling to its lowest level since July.
Ethereum was also trading in the red, hitting multi-month lows in the process. This comes as the overall global market cap in cryptos was down close to 9% at the time of writing., which has been the main focus of the recent decline in crypto prices, was trading 3% lower on Monday , and almost 20% down from its position at the same time last week./USD hit an intraday low of $33,184.06 during today’s session, which is its lowest level since July 23rd last year.
The RSI also shows that price strength is below 30 , which typically signifies a market being oversold. However, with the real bullish momentum appearing to come in above 30, we may be in for some further consolidation today.
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