Bitcoin and Ethereum may face further decline – Report

Both BTC and Ethereum returns have declined, the Glassnode report states. Bitcoin traded between $31,200 and $28,713. On May 21, Ether’s price bounced off a rising trend line. The next resistance is $2,159. A derivatives market evaluation shows further downside risk. Bitcoin and Ethereum block space demand is at multi-year lows. EIP1559 has decreased the burning rate of both coins.