Over the weekend, the Bitcoin market lost nearly 15% and at the press time was seen pushing past its support and trading at $32,829.
Although Bitcoin tried to hold on to various support levels on its way down, the asset was experiencing a high sell-off.
Traders were trying to stabilize the BTC value at this level as we could see some buying pressure, but it was not enough to change the trend.
Aroon Indicator suggested that the market was witnessing a bearish price move as the Aroon Up line was under the Aroon down line signaling the falling price.
It lost nearly 8% of its value in an hour but has now found support at $7.80.
Irrespective of the current sell-off, THETA market was still seeing money entering the market.
Namrata is a full-time journalist at AMBCrypto covering the US and Indian market.
Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice.