https://ift.tt/bUkfCAt Coins Bearish Amid Multiple Factors Haunt Global Crypto Market

• The price of Ethereum has continued to fall after failing to hold gains.
• OpenSea’s CEO said that the company was investigating a phishing assault.

On Monday, the price of digital tokens continued to fall as Russia-Ukraine tensions rose and inflationary concerns persisted. Investors may have been put off by a probable OpenSea hack, the most popular NFT platform. Losing the $40,000 support last Saturday, Bitcoin (BTC), the biggest cryptocurrency globally, is still under pressure. BTC’s price fell below $38,000 before rising again in a subsequent market correction.

The recent behavior of Bitcoin whales signals that we may be on the verge of a big correction. Since the beginning of February, the number of whales on the network with a value of 100 to 100,000 $BTC has not changed. These high-net-worth individuals may be waiting for a price drop before purchasing Bitcoin at discounted prices.

The price of Ethereum has continued to fall after failing to hold gains over the $2,880 support level. After breaking the $2,750 mark and the 100-hour SMA, ETH entered a bearish zone.

Even as low as $2,575, the price fell below the $2,640 support level. It has risen beyond the $2,640 mark and is trading above that level. In addition, on the hourly chart of ETH/USD, there was a break over a key negative trend line with resistance above $2,650.

$3 Million Worth NFTs Stolen

On the 20th of February, OpenSea’s CEO said that the company was investigating a phishing assault that had targeted 32 OpenSea users. According to reports, $3 million worth of NFTs were taken. This rising fear of exploits has threatened the NFT market.

According to CEO Devin Finzer, the impacted people signed a malicious payload from the assailant. As a result, they lost their NFTs. Furthermore, the attacker has been inactive for four hours. There was also zero involvement on Opensea services in this incident as per the platform.