SUMMARY
Over the weekend, Bitcoin remained in the red as it entered a correction phase, causing a decrease in investor confidence. This might be due to uncertainties related to both macroeconomics and the cryptocurrency industry, which investors and traders continued to consider. In case the price drops from its present level, the next support levels would be at US$27,119, and then US$26,500.
Bitcoin | The world's largest and most popular virtual currency, Bitcoin, rose 0.5 percent to $27,747.5. Its market value stood at $536.5 billion. The trade volume was at $13.6 billion.
"Over the weekend, Bitcoin remained in the red as it entered a correction phase, causing a decrease in investor confidence. This might be due to uncertainties related to both macroeconomics and the cryptocurrency industry, which investors and traders continued to consider. In case the price drops from its present level, the next support levels would be at $27,119, and then $26,500," said Edul Patel of Mudrex.
Ethereum | The second largest virtual currency, Ethererum or Ether, rose 0.4 percent to $1,867.5 with a market capitalisation of $225.1 billion. The trade volume of Ethereum was $6.7 billion in the last 24 hours.
On ETH, Patel said, "Meanwhile, Ethereum has nullified all the gains it had obtained from the Shanghai upgrade. At present, the market appears to be bearish overall."
Dogecoin | Meme-based virtual currency, Dogecoin, slipped 0.7 percent on Monday. Its market value stood at $0.1 billion. The trade volume was at $813.9 million.
Shiba Inu | Shiba Inu fell 0.2 percent with a market capitalisation of $6.1 billion. The trade volume was $117.2 million in the last 24 hours.
Solana | Solana rose 0.3 percent at $21.7 with a market capitalisation of $8.6 billion. The trade volume of Solana was $340.4 million in the last 24 hours.
Polygon | Polygon fell 0.9 percent with a market capitalisation of $9.3 billion. The trade volume was $340.4 million in the last 24 hours.