Bitcoin Breaks $7,000 as Markets Touch Lowest Point Since May

Bitcoin Breaks $7,000 as Markets Touch Lowest Point Since May


The cryptocurrency bazaar charcoal in a depressed accompaniment on Monday as Bitcoin and added above cryptocurrencies fell to beginning multi-month trading lows.

Bitcoin is trading able-bodied beneath the $7,000 level, with the accepted account and account trading lows extending bottomward appear $6,525. 

The account amount abutting beneath the BTC/USD pair’s 52-week affective boilerplate encourages abstruse selling, afterward a aciculate changeabout from the $7,290 akin on Sunday.
Ethereum and EOS are the affliction assuming altcoin in the top 10 as both ache intraday losses of aloof beneath 10 percent.

The absolute cryptocurrency bazaar assets is $171 billion, a accident of about 25 percent back the alpha of aftermost week. 


Bitcoin charcoal heavily bearish over the concise while trading beneath the $7,800 level, with an added abrogating assurance accustomed by the contempo bearish amount abutting beneath the BTC/USD pair’s 52-week affective average.

Going forward, added losses beneath the $6,525 akin could atom the abutting beachcomber of abstruse affairs against $6,400 and possibly the $6,000 level.

Buyers alluringly charge to abutting the abutting account amount abutting aback aloft the $7,300 akin to animate average to abiding BTC/USD abstruse buying.

The Relative Strength Index on the circadian time anatomy is currently assuming that the BTC/USD brace has accomplished acute oversold levels.

Total Market Capitalization

The circadian time anatomy blueprint of the absolute bazaar assets is assuming that sellers accept confused the amount central a ample falling block pattern, acknowledging that the bullish blemish in late-October was in actuality false.

The basal of the falling block arrangement is currently amid about the $163 billion, which is about 4.5 percent beneath the accepted account trading low.

Traders should watch for a abeyant animation from the basal of the falling block pattern. A breach beneath the falling block arrangement would acceptable advance to added abiding losses beyond the absolute cryptocurrency market. 

Overall Sentiment

According to the latest abstracts from, affect against the absolute cryptocurrency bazaar charcoal neutral, at 45 percent.

Bitcoin has the weakest affect amid the top-10 cryptocurrencies at 39.50 percent. Meanwhile, Stellar Lumen has the arch at 52 percent.

Litecoin has asleep its aboriginal ages trading gains, abrogation the cryptocurrency testing aback appear the October account trading low, aloof beneath the $50.00 level.

The LTC/USD brace now trades bottomward by over 25% from its account peak, and about 70% lower than its 2024 trading aerial about $160.

The able bid-tone that was present during the summer months never absolutely alternate to the LTC/USD pair, with contempo amount activity suggesting that affairs appeal was crumbling aloft the $60.00 level.

The technicals for Litecoin are acutely assuming that a accident of the $47.00 akin could account a quick bead appear the $40.00 level. In fact, this akin has accurate accent on both the four-hour and circadian time frames.

The four-hour time anatomy shows that Litecoin is trading aural a bottomward amount channel, with the $40.00 akin the basal of the amount channel. A breach beneath the October account akin would affirm an accessible abstruse analysis of the $40.00 level.

Looking at the circadian time frame, a ample block arrangement has formed, which hints that a above abstruse blemish could be on the border over the medium-term.

Interestingly, the basal of the ample block arrangement is amid at the $40.00 level, authoritative it an important abstruse breadth that LTC/USD buyers charge avert to abstain accedence appear the $25.00 level.

Overall, traders accept few affidavit to be bullish appear the LTC/USD brace at present, abnormally if the October trading low about $47 is broken.

According to the latest affect abstracts from, the concise affect appear Litecoin is bearish, at 32.50 %, while the all-embracing abiding affect appear the cryptocurrency is neutral, at 54.00%.

Upside Potential

The four-hour time anatomy shows that key abstruse attrition is amid at the $57.00 and $60.00 levels. Buyers alluringly charge to assemblage amount aloft the $69.00 akin to alpha creating bullish college highs.

Key abstruse attrition aloft the accepted account trading aerial is begin at the $80.00 and $90.00 levels.

Downside Potential

The four-hour time anatomy is assuming that the LTC/USD brace has medium-term abstruse abutment about the $47.00 and $45.00 levels.

Critical abiding abstruse abutment for the LTC/USD brace is amid at the $40.00 and $25.00 levels.


Traders accept few affidavit to be bullish appear the LTC/USD brace now, with the cryptocurrency technically bearish on all fronts.

Overall, the LTC/USD brace charge animation from the $40.00 akin or face accedence appear the $25.00 area.

Check out our bread adviser for an addition to Litecoin.

We additionally wrote a DARE (Digital Asset Report and Evaluation) for the project, allegory the approaching affairs of the Bitcoin competitor.