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Most of the coins have returned to the green zone, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has declined by 1.32% over the last 24 hours.
On the hourly chart, the rate of BTC has broken the local support of $108,585. If the daily bar closes around the current prices or below, the correction is likely to continue to the $107,000 mark soon.
On the longer time frame, bulls have failed to keep the growth going after yesterday's bullish closure.
If the situation does not change by tomorrow, there is a high chance of seeing a test of the $106,000-$107,000 range by the end of the week.
From the midterm point of view, none of the sides is dominating. Thus, the volume is going down, which means traders are unlikely to see any sharp moves soon.
Bitcoin is trading at $108,088 at press time.
Vladislav Sopov
U.Today Editorial Team