Leading cryptocurrencies inched lower on Sunday as investors maintained a subdued risk appetite.
Bitcoin tumbled below $93,000, extending the leading cryptocurrency’s ongoing decline.
XRP rose 0.93% to $2.23.
Trading volume more than doubled over the last 24 hours, signaling high selling pressure.
Ethereum bounced off its support at $3,000 late evening, with trading volume jumping 71% to $32.16 billion.
Dogecoin declined 1.39% to $0.1595.
Bitcoin’s open interest rose 1.41% in the last 24 hours.
A rise in open interest, coming alongside a dip in spot price, typically indicates that new money is entering the market through short selling.
Extreme Fear dominated the market, according to the Crypto Fear & Greed Index.
The global cryptocurrency market capitalization stood at $3.22 trillion, contracting 0.33% in the last 24 hours.
Michaël van de Poppe, a widely followed cryptocurrency analyst and trader, predicted Bitcoin would test new lows in the coming week.
“If it breaks the lows and quickly rebounds with good macroeconomic data, then we’re in for some good times,” the analyst added.
Ali Martinez noted Ethereum could tumble toward $1,800, implying that the second-largest token could tumble further.
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