Crypto On Nov. 8: Bitcoin Back Below $20,000, Altcoins Crash

The crypto market opened on a bearish note Tuesday as leading cryptocurrencies Bitcoin (BTC) and Ether (ETH) lost the $20,000 and $1,500 price levels, respectively.

The bullish momentum established by the crypto market over the weekend did not last long enough as BTC was once again rejected by the $21,000 price region. Following BTC's rejection, ETH also failed to claim $1,600, and now, both leading crypto coins are below their nearest minor support levels.

In the last 24 hours, BTC was down 5.94%, while ETH was down 8.20%. On the other hand, the trading volume of BTC went up 61.13%, while that of ETH surged 52.22%.

As of 12.39 a.m. ET, BTC and ETH tokens were priced at $19,658 and $1,461, respectively, according to data from CoinMarketCap.

The crypto fear and greed index showed that the market was in "fear" as the value dropped to 31.

BTC has dipped 4.19% in the last seven days, while ETH's price crashed 8.69% in the same period.

Additionally, as per the prediction from Bitnation, the BTC token is expected to reach a maximum price of $35,460.74 by the year-end, while the ETH token will likely trade around $2,643.12.

Other top 10 crypto coins showed bearish movement, with Binance Coin (BNB) down 5.41% to $320.81; Polygon (MATIC) down 9.14% to $1.10; Cardano (ADA) down 6.87% to $0.3807; Dogecoin (DOGE) down 15.55% to $0.1001; and Ripple (XRP) up 8.95% to $0.4314.

The top gainers included Toncoin (TON), which rose 4.07% to $1.66; VeChain (VET), which was up 3.28% to $0.02641; Chainlink (LINK), which was up 0.34% to $8.28; and Reef (REEF), which was up 12.08% to $0.005762.

The top losers in the crypto market were Uniswap (UNI), which was down 13.14% to $6.40; Comos (ATOM), which slipped 12.37% to $12.92; FTX Token (FTX), which was down 28.09% to $16; and Huobi Token (HT), which dropped 15.38% to $6.82.

Other popular tokens that were bearish include Solana (SOL) which was down 20.79% to $25.71; Polkadot (DOT), which dipped 5.89% to $6.49 and Avalanche (AVAX) which went down 11.13% to $16.54.