Bitcoin, Ethereum Technical Analysis: BTC, ETH Hit Multi-Month Lows to Start the Week

Bitcoin, Ethereum Technical Analysis: BTC, ETH Hit Multi-Month Lows to Start the Week


On Monday, bitcoin fell to its lowest level since June, as sentiment in cryptocurrency markets remains bearish. The token has fallen lower in consecutive sessions following last week’s U.S. inflation report, and the fall comes ahead of the upcoming U.S. Federal Open Market Committee meeting. Ethereum was also down, hitting a multi-month low of its own.

Bitcoin

Bitcoin (BTC) fell to a four-month low to start the week, as bearish sentiment remains high in crypto markets.

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BTC/USD slipped to an intraday low of $18,390.32 earlier in the day, which comes following a breakout of a floor at $18,645.

The drop saw bitcoin hit its weakest point since June 18, which was the last time this support level was also broken.

Many believe the decline comes

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