Cryptocurrencies extended losses on Monday, after gaining in previous sessions, despite positive trends in global markets.

World's most popular and largest cryptocurrency Bitcoin was trading 1.6 percent lower at $23,402.5 at 10:33 am. Bitcoin's market capitalisation was almost at $447 billion, while the trade volume was at $23.29 billion in the past 24 hours. The crypto token has grown 6.58 percent in the last seven days.

WazirX analyst said, "The weekly trend for BTC continues to traverse within a descending triangle pattern, but has bounced off from the support level and is on an uptrend.. The next key resistance level for BTC is expected at $32,300."

Edul Patel, CEO and co-founder of Mudrex, said, "If bulls can make a move today above the current level, we might see BTC touching the $25,000 soon."

Second-largest virtual currency Ether was 0.5 percent down at $1,695.2 with market capitalisation of almost $206 billion. Trade volume of Ethereum was $14.3 billion in the last 24 hours.

Meme crypto Dogecoin was 1.2 percent down with a trade volume of $544.7 million in 24 hours. Shiba Inu was, however, trading 2.5 percent higher at $0.000012 while Solana was 2.31 percent up at $43 billion.

Indian headline indices opened higher on Monday.

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