The Crypto Report: Bitcoin and Ethereum retrace their steps in a bearish Tuesday trade

Bitcoin fell 3.5% to US$21,150 in Tuesday’s early-morning trade, stemming hopes of a sustained recovery on the crypto markets.

Ethereum suffered greater losses with a 6.45% decline, pulling the coin back below the US$1,500 support line.

Global market capitalisation was unable to hold onto the key US$1tln price barrier, dropping 3.73% to US$971.1bln.

It’s been a bearish morning for network tokens, with Binance’s BNB coin, Cardano, Solano, Polygon and Avalanche all shedding between 4% and 10%.

Decentralised finance took a 4.43% hit in total locked volumes, with Curve and Convex Finance being among the biggest double-digit losers.

The large-cap play-to-earn (P2E) segment continued to lose ground; Decentraland’s MANA token fell by 5%, The Sandbox by 7% and Axie Infinity by over 8%.

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