Tanya Abrosimova
Independent Analyst
- Bitcoin and major altcoins have resumed the decline.
- Critical support levels remain unbroken so far.
The cryptocurrency market continues its rueful trip to the South. Bitcoin (BTC) and all significant altcoins are deep in red, nursing losses from 1% to 8% with the notable exception of Chainlink (LINK). UNUS SED LEO (LEO) and EOS. These three coins managed to stay in a green zone so far.
The total capitalization of all digital assets in circulation dropped to $266 billion from $275 billion this time on Tuesday. The total trading volume is registered at $59 billion, while Bitcoin's market share has settled at 65.0%.
Top-4 coins price overview
Bitcoin (BTC/USD) touched the intraday low at $9,573 and recovered to $9,700 by the time of writing. The market is still dominated by bearish sentiments, while BTC/USD is vulnerable to further losses with the next focus on $9,300. BTC/USD is down 4% on a day-on-day basis.
Ethereum, the second-largest digital asset with the current market capitalization of $22.0 billion, is down 4% on a day-on-day basis and down 3% since the start of the Asian session on Monday. ETH/USD tested $200.00 support during early Asian hours. At the time of writing, it is changing hands at $206.00.
Ripple's XRP stays above critical $0.3000, though it is down both on a day-on-day basis and since the beginning of Wednesday. Ripple's current market capitalization is registered at $13.1 billion, while an average daily trading volume comes at $1 billion.
Litecoin (LTC/USD) dropped below critical $90.00 amid intense bearish pressure. The fourth-largest coin with the current market capitalization of $5.6 billion has lost 3.5% of its value to trade at $89.50 by the time of writing.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Ripple wipes out weekly gains, experts comment on role of Ripple stablecoin
Ripple declined to $0.52 on Thursday, erasing all gains registered earlier this week. Ripple SVP Eric van Miltenburg’s comments on the firm’s stablecoin, and how it is expected to benefit the XRP Ledger and native token XRP have raised concerns among crypto experts.
Hedera HBAR slips nearly 10% after air is cleared on mistaken link with giant BlackRock
HBAR price is down nearly 10% on Thursday, partly erasing gains inspired by the misinterpreted link with BlackRock. Despite the recent correction, Hedera’s price is up 44% in the past seven days.
The reason behind Bonk’s 105% rise and if you should buy now Premium
Bonk price has shot up 105% in the past five weeks. A retracement into $0.0000216 or the $0.0000152 to $0.0000186 imbalance would be a good buying opportunity. Patient investors can expect double-digit gains from BONK that could extend up to 70%.
Injective price weakness persists despite over 5.9 million INJ tokens burned
Injective price is trading with a bearish bias, stuck in the lower section of the market range. The bearish outlook abounds despite the network's deflationary efforts to pump the price. Coupled with broader market gloom, INJ token’s doomed days may not be over yet.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?