Digital-currency traded broadly lower in Monday on Monday, kicking off the week on a down note.

Optimism in the crypto community grew last week after all cryptocurrencies staged a turnaround, with some rising as much as 25% off Tuesday’s lows. However, bitcoin, BTCUSD, -1.14% the world’s biggest coin, still has a way to go before the move is considered anything but a temporary bounce.

“BTC is bouncing from critical support at its 2018 trading range lows between 5775-6000 and is beginning to reverse its August downtrend. A move above first resistance between 6545-6842, near the declining 15-dma, is needed to suggest recent strength is anything more than a minor bounce,” wrote Rob Sluymer, technical strategy at Fundstrat Global Advisors.

However, after trading to $6,595.65 on Saturday, bitcoin has retreated, suggesting that at this stage, the move off the low is just that—a minor bounce.

A single bitcoin last changed hands at $6,464.68, down 0.8% since Sunday at 5 p.m. Eastern Time on the Kraken exchange.

Read: Bets against bitcoin have doubled since the beginning of August, exchange says

Four exchanges join crypto SRO group

Four cryptocurrency exchanges have joined the Virtual Commodity Association (VCA) working group that proposes a self-regulatory approach to the digital exchange industry.

The exchanges, Gemini, Bitstamp, Bittres and bitFlyer will specifically focus on exchanges and custodians. “We believe adding a layer of oversight on virtual commodity cash markets, in the form of self-regulation, is important for consumer protection and to ensure the integrity of these markets,” wrote Cameron Winklevoss, co-founder and president of Gemini.

“We look forward to participating in the VCA with our peers and working with industry leaders, participants, regulators, and legislators.”

The VCA was first proposed by Gemini in March.

Altcoins slump in New York trading

After slumping as much as 20% early last week, altcoins, or coins alternative to bitcoin, rallied to close the week in positive territory. However, these coins have since given back some of last week’s gains.

Ether ETHUSD, -5.55% which at one point was up 25% off its low last week, is trading back under $300 at $289.02, down 4.3% from Sunday. Bitcoin Cash BCHUSD, -5.42% is down 4.5% at $547.90, Litecoin LTCUSD, -4.46% is off 2.7% to $56.77 and Ripple’s XRP XRPUSD, -2.21% is trading at 34 cents, sown 3.8%.

Bitcoin futures finished lower Monday. The Cboe Global Markets Inc.’s September contract XBTU8, -0.66% finished trading down 0.3% at $6,452.50 while the CME Group Inc August contract BTCQ8, -0.77% closed down 0.8% at $6,430.

Read: ICO swindlers have absconded with some $100 million in investor dough, research firm says

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