Bitcoin is facing a lot of selling pressure after another rejection from the crucial $12,000 level and the recent news from Korea. Bithumb, the largest cryptocurrency exchange in the country is facing fraud charges and its headquarters have been seized by police.
Ethereum (ETH) hit the multi-year high at $488 on September 1 and retreated to $461 by press time. The second-largest digital asset has lost over 1.2% since the start of the day. However, it is still in a green zone if compared to this time on Monday. ETH/USD has been moving in sync with the market, which has started a downside correction after a sharp rally of recent days.
The weakness of XRP is quite apparent as the digital asset gets closer to a crucial support level at $0.255. This low formed on August 27 is really the only support level on the way down beside the 100-EMA and the 200-EMA.
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