The crypto market succumbed to selling pressure on Tuesday, with bitcoin and ether falling back from relative safety into a zone that could see the two largest cryptocurrencies by market value challenge multimonth lows.
BTC is trading at $107,800 while ETH is at $3,867 having bounced over the weekend then giving back gains on Tuesday.
Analysts will now be assessing whether the crypto market formed a “lower high” pattern and will continue to decline. The next sign would be if bitcoin slides below the Oct. 17 low of $103,700.
Derivatives Positioning
- The bitcoin futures market is showing a measured recovery, with open interest increasing to $26.06 billion as traders gradually re-engage.
- The three-month annualized…
