Cryptocurrencies Drop as Negative Market Lingers — Market Talk
Cryptocurrencies are down in morning trading, with traders pulling back after major crypto assets showed signs of strength over the weekend. The segment has been moving in a positive direction over the past week, but the sentiment around cryptocurrencies hasn't totally shed fears over potential pitfalls. "Risk-reward has improved markedly, but is not fully de-risked," says an analyst with CryptoQuant in a note. "Downside pressure is lower as large holders accumulate, signaling the last stage of the bear market — yet from a pure valuation standpoint, some further downside remains possible before a confirmed floor." Bitcoin is down 1.3% at $64,200, ethereum falls 2.3% to $1,876, XRP sheds 2% to $1.02, and solana is 1.8% lower at $75.83. ([email protected])