Bitcoin, Ethereum, and Other Top Cryptos See Sharp Losses as the Market Turns Red

The crypto market lost considerable value on Monday after a positive weekend. Bitcoin, Ethereum, and other top cryptos were subject to sharp losses.

Cryptocurrency traders are closely monitoring the latest market developments after a positive weekend, with Bitcoin, Ethereum, and other top cryptos experiencing sharp losses on Monday.

According to data from Cointree, the Fear and Greed Index is at 49, indicating a neutral stance in the market. However, traders are reportedly exiting the market gradually amid the uncertainty.

Among the top cryptocurrencies, only TRON managed to stay in the green zone with a gain of 0.08%. All other major cryptos faced losses, led by Ethereum with a drop of 2.55%.

Here's a snapshot of the crypto market with the latest updates to help traders gauge the industry dynamics.

Bitcoin

BTC lost 1.56% in 24 hours after gaining a similar amount on Sunday. The market leader trades at $62,578 after testing $65,000 a day earlier.

Its 7-day performance chart also indicates a decline of 1.76%. The US Supreme Court recently ruled against a case regarding the $4.4 billion Silk Road Bitcoin, pushing BTC closer to the support level of $61,982.

For a significant recovery, the coin must cross the resistance level at $64,049.

Ethereum

Ethereum saw a sharp decline with a loss of 2.55% in the past 24 hours, as its price dropped from $2,500 to $2,421. Over the past week, ETH has lost more than 8%, impacting its market standing. The ETH coin is at a critical juncture as large investors (whales) continue to liquidate their ETH holdings.

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