- Bitcoin price failed to extend recovery and declined sharply.
- Ethereum declined 8%, XRP dived 10%
- BNB, ADA, DOGE, DOT, and SOL are down over 8%.
Bitcoin price failed to settle above the USD 58,500 resistance zone. BTC struggled to continue higher and started a sharp decline below USD 55,000, after stock markets in Asia and US stock futures all pointed lower due to fears over a new variant of the coronavirus that is spreading in South Africa. It is currently down almost 7% and traded to a new weekly low.
Similarly, most major altcoins are moving lower. ETH is down 8% and it even tested USD 4,000. XRP broke the key USD 1.00 support and declined 10%. ADA extended losses and tested the USD 1.50 support level.
Bitcoin price
After facing hurdles near USD 59,500, bitcoin price started a fresh decline. There was a sharp bearish wave and the price declined over 5%. It broke the USD 56,500 and USD 55,000 support levels. An initial support is near USD 54,000. The next major support is near USD 52,500, below which the price