Major Tokens Including BTC, ETH, XRP Slide, Monitors Awash With Red
The cryptocurrency market wilted early Monday, with losses in bitcoin , ether (ETH) and other major cryptocurrencies triggering the liquidation of leveraged bets worth $1.5 billion.
The decline followed a supposedly dovish Fed interest-rate cut, which was expected to send the dollar index lower and encourage more risk-taking in crypto markets.
“In recent days, there have been several signals of a shift to a downward trend in the first cryptocurrency,” Alex Kuptsikevich, chief market analyst at the FxPro, said in an email. “BTCUSD fell out of the upward channel that had been in place since early September, dropped below horizontal support and fell sharply below the 50-day moving average.
“This combination of negative signals…
