Bitcoin and Ethereum in the bears' hands, Ripple (XRP) loses steam

There's little to celebrate in the markets this Monday morning, crypto or otherwise, with all major digital assets cutting a bearish path concurrent with the major UK and US indices. Ethereum lost another couple of percentage points over the weekend, dragging its market price below US$1,300.

Timeline of Bitcoin, Ethereum, Xrp

The prices of Graphic Processing Units (GPUs) have fallen to their lowest ebb ever in China over the past few months. The reason for this is not far-fetched, as one of the major industries where they were deployed has embarked on a fundamental change of course that renders them redundant.

Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) ended the week in the red, but some cryptocurrencies managed to buck the market slump induced by the Federal Reserve's Wednesday rate hike and clock significant gains. XRP (CRYPTO: XRP) surged over 27.26% to $0.4926 in the week ending Sept.

Stanford researchers have proposed new Ethereum token standards that support reversing transactions when the situation and evidence warrant it. The post Stanford Researchers Propose Reversible Ethereum Transactions appeared first on BeInCrypto.

The world's largest cryptocurrency Bitcoin (BTC) continues to face strong selling pressure amid uncertainties in the global markets. Over the last weekend, the BTC price has slipped under $19,000 with analysts expecting further downside.

Ethereum's long-awaited transition to proof-of-stake has further impacted graphics card markets since they can no longer be used to mine the asset. The post Graphics Card Prices Tank in China Weeks After Ethereum Merge appeared first on BeInCrypto.

Bitcoin price managed to stay above the key $18,500 support. BTC is currently (03:10 UTC) consolidating near the $19,000 level. To start a fresh increase, the bulls need to gain strength for a move above the $19,500 resistance zone.

Major coins were seen trading lower Sunday evening as the global cryptocurrency market cap fell 0.9% to $923.7 billion at 8.05 p.m. EDT. Price Performance Of Major Coins Coin 24-hour 7-day Price Bitcoin (CRYPTO: BTC) -0.7% -3.2% $18,802.10 Ethereum (CRYPTO: ETH) -1.8% -3.1% $1,294.22 Dogecoin (CRYPTO: DOGE) -3.35% -6.2% $0.06 Top 24-Hour Gainers (Data via CoinMarketCap) Cryptocurrency 24-Hour % Change (+/-) Price ApeCoin (APE) +5.3% $5.72 Maker (MKR) +4.4% $709.47 Chainlink (LINK) +3% ​​$7.87 See Also: How To Get Free NFTs Why It Matters: Bitcoin and Ethereum followed other risk assets lower at the time of writing.

Ether might become deflationary when the coins from block subsidy are lower than those burned. Also, ETH will become a deflationary asset when more people transact with the coin than those who stake it.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Ethereum [ETH] registered a double-digit loss over the last ten days after an expected pulldown from its supply zone and up-channel.

Crypto analyst Nicholas Merten recently said that technology indices are due for further declines, and he believes the drop will drive Bitcoin (CRYPTO: BTC) to new bear market lows. Merten said that a fall for the NASDAQ is bad news for Bitcoin and gives a rough price target for the leading digital asset.