Bitcoin price failed to settle above the USD 58,000 resistance on a few occasions. As a result, BTC reacted to the downside and broke many major supports near USD 57,000. It even declined below the USD 55,500 support level and it is currently (05:30 UTC) below USD 54,000.
Similarly, most major altcoins started a fresh decline. ETH is down 5% and it broke the USD 1,710 support zone. Conversely,