Cryptocurrencies languished, mirroring equity markets, although regulation and fundamentals are “moving in the right direction”. Bitcoin, the largest coin by market cap, fell 1.84% to US$38,979, falling and staying below the key support level of US$40,000. Ethereum, on the other hand, fell 3.38% to US$2,849, also trading below its own key support level of US$3.000 and changing hands at its lowest level in over a month. Recently, cryptos are increasingly following the movement of the equity markets, in particular, the tech-heavy Nasdaq and Hang Seng.
The Crypto Report: Crypto fall below key support levels; fundamentals moving in the right direction
