Crypto Bulls Face $100M Liquidations as Altcoins Drop as Bitcoin Rises Over $27.5K.

Technically, bitcoin is still going upward, but during the weekend, it encountered resistance at its 200-day moving average, according to the experts. "Everyone's attention will be focused on BTCUSD to see if it can consolidate successfully above $28,000, the 200-day moving average. If so, we may anticipate a swift increase to as much as $29,500.

The Ethereum Foundation sold $2.7 million worth of tokens on Monday, alarming traders and causing ether to fall 3%. This had an impact on ETH futures markets, with ether bulls suffering the largest loss on Monday among all cryptocurrency speculators at almost $30 million.