The cryptocurrency market lost 0.2% in 24 hours to $2.12 trillion but saw a fresh drop in the US session during the day before rebounding on buying in lower volumes in Asian trading on Friday morning. The Sentiment Index fell to its lowest level in over a month at 32 (fear).
Since the beginning of the week, Bitcoin's intraday momentum has been dominated by declines during the US session. The intensification of the sell-off was clearly visible on Wednesday and Thursday, with losses from peak to trough exceeding 3%. The first cryptocurrency fell below $59K before recovering to $60.5K at the time of writing. The momentum of the previous day's sell-off sent BTCUSD below its 50-day MA, and on the morning's recovery, the price is attempting to move higher again.
Ethereum was back at $2,400 on Friday, where it started the week. The rally we saw at the end of last week failed to develop, and the failure to make the local low was another touch of the 200-week MA, a long-term support line from which it has failed to break away for the ninth week. Ethereum was only weaker in 2020.
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