The recent pressure on the digital currency came from stronger USD demand amid the general risk aversion. Meanwhile, the negative industry developments added to the bearishness. In particular, Bithumb, one of the largest cryptocurrency exchanges in Asia, said that 35 billion won of tokens were snatched. It is around $31 million. The exchange has temporarily frozen deposits and trading. This is already the second such incident in Korea, with just one week ago, Coinrail lost $40 million through a hack.
Apart from these factors, the technical picture points to the downside risks as well. The coin remains within the and could nurse additional losses in the near term, should the mentioned $6,800 resistance hold. The cryptocurrency needs to get back above $7,000 at least to target the $7,800 key local barrier.