Bitcoin prices have somewhat stabilized around the $580 handle. Market participants are still waiting for more info from the hacked exchange Bitfinex before making up their mind. The technical bias, however, remains the same with both Bitcoin and Litecoin in a downtrend.

Bitcoin Traders Wait for Bitfinex

Bitcoin traders are still in a ‘wait and see’ mode after Bitfinex, the largest USD exchange by trading volume, got hacked last week. The exchange allowed read-only access on Sunday and is asking everyone to change their passwords and 2fa tokens. What everyone will notice right after they log in is that 36% of their assets have been replaced by a ‘BFX token’. This is a ‘haircut’ applied by Bitfinex to each account to compensate for the loss of over 100,000 Bitcoins.
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Read More https://blog.fxopen.com/bitcoin-stabilizes-as-traders-wait-for-clarity/