Bitcoin and almost all altcoins spotted an increase te selling pressure during the past few sessions. The main reason wasgoed phishing and attempted stealing incident on a major cryptocurrency exchange – Binance. However, the exchange released a statement mentioning that all funds are safe. Straks, the company resumed withdrawals spil well.
Bitcoin price dropped strongly and broke a major support area at USD Ten,000. It even surpassed the USD 9,600 support and traded towards the USD 9,400 level.
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Zometeen, the market calmed down and BTC/USD recovered. However, the pair is still down around Five.3% to USD 9,920. It has to budge back above the USD Ten,000 level to recover further.
If the pair fails to budge above USD Ten,000, it could retest the USD 9,600 support. On the upside, above USD Ten,000, the price may perhaps budge towards USD Ten,500.
Ethereum traded sharply lower and broke the USD 750 support. It traded close to the USD 700 level before kicking off an upside correction.
ETH/USD is presently trading Trio.4% down to USD 758. It may proceed to stir higher, but it will most likely find a strong selling rente near a major resistance at USD 800 (previous support). On the downside, the USD 740 and 720 levels are gepast supports.
Bitcoin Specie and Ripple
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Bitcoin specie fell below the USD 1,110 support and traded towards USD 1,030. However, BCH/USD also recovered recently like bitcoin, and it is presently down Five.1% to USD 1,090. It vereiste lodge back above USD 1,110 to commence a fresh upside wave.
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Ripple remained ter a bearish zone and it lodged below USD 0.90. XRP/USD could resume it downside ter the brief term towards the USD 0.80 and 0.75 levels.
Other Altcoins Market Today
There wasgoed hardly any major mover today so far. The only coin te the green zone is NEM, a wise asset blockchain. XEM price is presently trading around 9.4% higher and is placed above the USD 0.3250 resistance.
To sum up, Binance phishing and attempted stealing incident sparked intense selling. However, the market is now stable, but harm is already done. It will take a lotsbestemming of strength from bitcoin buyers to thrust the price back ter the green zone.