The cryptocurrency market remained bearish for the fourth straight session on Monday, with the market capitalization losing 1.6 percent to reach $1.6 trillion. As of 1300 hours GMT, the price of Bitcoin, the world’s oldest and most valued cryptocurrency, shed 2.4 percent in the last 24 hours to reach $40,900. The market capitalization of the biggest crypto has reached $800.5 billion with this decrease. Bitcoin has been 3.4 percent down in the past seven days. Bitcoin is currently consolidating above the $40,000 level following weekend profit-taking, with a potential move towards $42,700 if buyers retain control. The absence of clear dominance by buyers or sellers, coupled with the rate positioned away from support and resistance levels, suggests BTC might trade sideways within the $41,000 to $43,000 range in the upcoming days. Bitcoin re-surged above the $43,000 level on late Wednesday after the Federal Reserve’s decision to keep interest rates unchanged and foreshadow potential cuts in the coming year. However, later the token started coming down. Similarly, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, shed 3.8 percent to reach $2,131. With this decrease in price, the market capitalization of ETH has reached $255.9 billion.
Bitcoin falls for fourth session to $40,900
