Omkar Godbole is the market reporter for CoinDesk, the global leader in blockchain news, where he produces technical chart-based price updates on Bitcoin and other alternative currencies.
Bitcoin is facing strongest selling pressure since February and has potential to drop below recent lows near $7,750.
XRP has been on the offensive, having ended a 3.5-month-long downtrend with a move to three-week highs.
A long-term bitcoin chart indicator has turned bullish for the first time in three years, though it's had little impact on prices.
Investors who trade crypto tend to take bigger risks in the stock market, suggesting they seek dopamine more than diversification, a study found.
Bitcoin has crossed the 20-day moving average hurdle, but remains in bearish territory on the daily and weekly charts.
Bitcoin's quick pullback from a 2.5-week high of $8,830 this morning has invalidated a bullish breakout on the 4-hour chart.
Bitcoin may rise to $9,000 in the short-term, with traders seemingly unfazed by the rejection of Bitwise's bitcoin ETF proposal.
The Fed Reserve's decision to expand its balance sheet is seen as a long-term positive for bitcoin, but prices are yet to feel any effect.
Bitcoin logged the biggest single-day price gain in five weeks on Monday, opening doors for a stronger recovery rally to key resistance above $8,500.
Bitcoin has again defended historically strong price support near $7,700, keeping the hopes of a corrective rally alive.