Bitcoin has corrected lower after failing to break above it year-to-date highs above $9k.
Like most of the cryptocurrencies in the top 10 by their market caps, Bitcoin descended into the red after dropping more than 2.47% on Monday in the afternoon.
Bitcoin (BTC) rallied once again to break above $9,000 last Friday, its highest price point for 2019. However, the decline that began over the weekend has seen it break lower for a second day, first failing to hold above $8,600 and then dropping further to currently hold just above $8,500.
At press time, data at CoinMarketCap shows that BTC is trading at about $8,507 to the dollar. It is also in the red in its seven-day charts having declined over 2.88% in the same period.
Intraday volatility has seen bitcoin hit a high of $8,808 and an intraday low of $8,471.
Most of the other coins are also struggling, with ether (ETH), down 2.8%. It is currently trading at $262 to the dollar, while XRP is under a percentage up on the day. The crypto is currently trading at $0.44, but unlike the top two, it is over 6% up over the last seven days.
Of the top 10 coins, the biggest gainer is Bitcoin SV that is at press time up by more than 15% to exchange hands at $220 to the dollar. BSV is over 89% up in the last seven days.
Meanwhile, Wall Street stocks are weak in afternoon deals after opening sharply lower on Monday as trade war tensions between the U.S. and China intensified over the weekend.
The Dow Jones Industrial Average (DJIA) fell 355 points, or 1.4% in the morning, but has rallied and is up 105 points, or 0.42%. The S&P 500 had tumbled by over 1.3% but is now at +9.05 points, or 0.35% higher. However, the Nasdaq Composite is down 28 points, or 0.28% lower at 7424.75.