Today, the capitalization of the global cryptocurrency market has decreased by 2.85%. Ethereum also fell on Monday as prices pulled back from a recent high above $2,000.
After briefly rising above $25,000 over the weekend, Bitcoin traded in the red to start the week.
On Sunday, Bitcoin hit an intraday high of $25,135.59, but BTC dropped to a low of $23,960.03 today.
Sunday’s high was the highest for bitcoin since June 14, when the price of the token topped $26,700.
Looking at the chart, today’s price decline came after the $24,800 resistance level was hit over the weekend as the bulls failed to maintain the momentum needed to push prices higher.
Additionally, the 14-day Relative Strength Index (RSI) sits at 56.44 after failing to break a high of 61.80.
This continues to be the main obstacle to the evolution of the euro. BTC returns above $25,000 for a longer period.