Crypto market overview: Bitcoin drifts lower amid market indecision
|- All major coins are rangebound with bearish bias during Asian hours on Sunday.
- Bitcoin has settled below $8,600 after an attempt to move above $8,800.
- Cahinlink and Tezos are the worst performers of the day.
The cryptocurrency market is a mixed picture during early Asian hours on Sunday. Bitcoin and all major altcoins attempt a recovery after a recent slump; however, the upside momentum remains weak at this stage. The total market capitalization has decreased to $245 billion. The average daily trading volumes settled at $132 billion, while Bitcoin's dominance is registered at 63.8%.
Top-3 coins price overview:
Bitcoin failed to settle above $8,800 on Saturday and dipped to $8,517 before recovering to $8,575 by press time. The first cryptocurrency stayed mostly unchanged since the beginning of the day and lost 1.8% on a day-to-day basis. On the intraday level, the coin is moving within a short-term bearish trend amid low volatility.
Ethereum dropped to $216.30 during early Asian hours on Sunday and managed to claw back some ground. At the time of writing, the second-largest digital asset is changing hands at $221.95. ETH has gained 2% since the beginning of the day, though it is still down nearly 4% on a day-to-day basis. Ethereum is moving within a short-term bearish trend.
Ripple's XRP tested ground below $0.2300, but the sell-off proved to be unsustainable. The third-largest coin has recovered from the recent low of $0.2275 to trade at $0.2340 by the time of writing; however, the further upside momentum will depend on XRP's ability to settle above SMA100 daily (currently at $0.2326). seems to be limited. The coin has lost 3% on a day-to-day basis and gained 1.7% since the beginning of Sunday.
The biggest market-movers:
Saturday's growth leaders - Chainlink (LINK) and Tezos (XTZ) - are the biggest losers today. Both coins are down about 5% on a day-to-day basis.
NEO and Huobi Token (HTT) have been outperfroming the market with 3.8% and 2.3% of gains.
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