BTC/USD is trading at $53965.8, 0.85% down since Monday. The downward momentum continued to be seen in Bitcoin after sliding down to $50K levels on Sunday as China’s Xinjiang region for Bitcoin mining & operations have suffered an electrical grid blackout due to coal mine explosion. Last week, the BTC/USD tested the record high of $64000 levels; which remained short lived since the listing of crypto currency exchange, Coinbase, showed a poor debut on NASDAQ. The worsening Covid-19 situation in India, Europe & U.S; is resulting into lockdown phase which may remain vital for digital assets. Further selling may be recommended on daily basis in BTC/USD.

ETH/USD is trading at $2077.55, 0.29% down since previous close. Like Bitcoin, the Ethereum moved downside plunging to $2000 levels amid power outage in Chinese Bitcoin mining region. On contrary, the Ethereum formed record high levels of $2500 with high trading volumes & volatility due to falling U.S bond yields & firmer USD. The worsening Coronavirus situation in major countries pushes up riskier assets & digital assets as well. As seen in the chart, the ETH/USD successfully crossed down the short term Moving Averages & also, is testing the Fibo levels on downside which may show the next levels of $2000-$1950 & a reversal may lead to $2100-$2200 levels.