Ethereum fell over 3% on Monday off three-week highs on profit-taking as most cryptocurrencies face hefty losses. 

At Bitstamp, Ethereum shed $3.77, or 3.1% to $120.11, with a session-high at $124.04, and a low at $118.11. 

Ethereum rallied 5.1% on Sunday, the second profit in three days, marking three-week highs at $125.10. 

Market value of cryptocurrencies fell a billion dollars to $120 billion away from $123 billion, the highest since January 20. 

Ethereum went back to its place as the second most valuable cryptocurrency in market value with Ripple retreating to third place. 

However, Ethereum continues to face pressure as the market is still in need of strong incentives to attract new investments. 

US dollar rose in European trade against a basket of major rivals for the eighth straight session, on track for the longest winning streak since November 2016 while marking two-month highs as traders await crucial US-China trade talks. 

The dollar index rose 0.25% to 96.65, the highest since December 17, with a session-low at 96.39. 

The index rose 0.1% on Friday, while marking a 1.1% profit last week, the first weekly profit in three, and the largest since August.  

Dollar remains a favorite choice over other major currencies amid mounting tensions facing them. 

Euro faces weak European data that confirms the sharp decline in growth, in turn increasing evidence that the European Central Bank will maintain its easy policies and lower rates. 

In Britain, Bank of England warned the economy might hit the lowest growth rate since 2009 due to global economic slowdown and Brexit uncertainty. 

In Australia, the central bank admitted the increasing economic concerns and opened the door for rate cuts this year, a marked reversal from the previous bullish stance. 

Now investors await US-China trade talks in Beijing, with focus on how the Chinese government plans to deal with intellectual property for US companies. 

European stocks rose on Monday on track for the first profit in three sessions, as most sectors move north before a new round of US-China trade talks. 

Dow Jones Stoxx Europe 600 rallied 0.9% after a 0.5% drop on Friday on profit-taking off 12-month highs. 

The index lost 0.4% last week, the first weekly loss in six weeks after disappointing earnings results and economic slowdown concerns. 

The banking sector led the way higher with a 1.3% profit after some Italian banks reported the European Central Bank is putting up new capital limits and regulations. 

The focus this week is on global trade, with US officials traveling to Beijing to partake in new talks in hopes of solving the current dispute. 

On Wall Street, S&P 500 rose 0.2%, after rising 0.1% last Friday, the first profit in three sessions. 

The Euro Stoxx 50 rose over 1%, while France's CAC 40 rallied 1%, as Germany's DAX rose 0.9%, and London's Financial Times 100 added 0.8%. 

USD/JPY rose in Asian trade off January 16 lows for the fifth session out of eight, while the Japanese market closes down for a national holiday today. 

As of 05:58 GMT, USD/JPY rose 0.23% to 109.98, with an intraday high at 110.01, and a low at 109.69. 

Federal Reserve Governor Michelle Bowman is due to speak at the Annual American Bankers Association Conference for Community Bankers, in San Diego, later today, a day before Fed Chair Jerome Powell delivers a speech tomorrow titled "Economic Development in High Poverty Rural Communities" at the Hope Enterprise Corporation Rural Policy Forum, in Mississippi.