Following recent multi-month highs, BTC continued to consolidate on Monday, as markets marginally fell to start the week. In addition to bitcoin, the current uncertainty in crypto markets also pushed ETH lower, falling below its $3,500 level as a result.
Bitcoin
BTC was trading in the red to start the week, as the world’s largest cryptocurrency continued to move away from recent highs.
Following last week’s high above $48,220, BTC/USD hit a low of $45,839.92 earlier in today’s session.
Since breaking out of the resistance last Monday, BTC has struggled to regain momentum, and is now down nearly 3%, following those highs seven days ago.
Should bearish momentum continue, many expect to see bitcoin trading at its support of $45,000 as the week progresses, with some even anticipating a drop below this point.
Looking at the chart, the 14-day RSI has also shown that price strength has eased, with the indicator currently tracking below its own ceiling of 63.
Bulls will likely rem
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