Bitcoin Dips Below $7,500 ?s Crypto Markets See Second Day of Losses

August 1: Crypto assets have seen a second day of losses, with Bitcoin now well below the $8,000 psychological price point and most of the major crypto assets in the red, according to data from Coin360.

Bitcoin is trading around $7,490 to press time, having lost almost 3 percent on the day.

Since the coin's July 25 peak at $8,431, the leading cryptocurrency dipped down below $8,000 yesterday for the third time this week.

Ethereum has seen heftier losses on the day, down a solid 5 percent to trade around $411 at press time.

The leading altcoin lost around $19 in value during early trading hours, traded sideways around $425, and then dropped to see an intra-day low of $410 an hour before press time.

Ethereum's weekly price performance is around 13.61 percent in the negative, having seen a more gradual but sustained downward trend than Bitcoin over the same time frame.

Ethereum's monthly losses are almost 11 percent.

Litecoin and EOS have seen the most losses of the top ten coins, both down 3.45 percent on the day to press time.

While the markets have seen their second, faltering day of continued losses, recent news indicates that the distance between the crypto industry and major institutional players continues to narrow.

News of Morgan Stanley's recruitment of a self-described crypto trading expert and 12-year veteran of Credit Suisse as its new head of digital asset markets suggests that the trend of figures leaving the traditional financial sector for crypto continues.