Crypto markets have remained in consolidation for the past 24 hours. There has been no move to the upside indicating that further losses could be inevitable. Total capitalization remains around $250 billion where it was this time yesterday.
Bitcoin hit its intraday high of a touch over $7,900 a couple of hours ago but recoiled again instantly afterwards. Support lies around $7,600 which has been hit twice over the past 24 hours. With a failure to break $8,000 BTC appears set for further declines.