Bitcoin and Altcoins Consolidate Losses As Bears Lose Momentum

Bitcoin price extended its decline below USD 31,200, but the bulls defended heavy losses. BTC recovered from USD 30,800 and it is currently (05:00 UTC) trading above USD 31,500. However, the price is facing a lot of hurdles, starting with USD 32,400 and up to USD 34,500.Similarly, most major altcoins are consolidating losses. ETH/USD is trading near USD 1,300, with a decent support at USD 1,275.