Crypto market overview: Bitcoin bulls lick wounds, altcoins spiralling down

All major coins are in decline during Asian and European hours on Thursday.
EOS and Chainlink are the biggest losers out of top-20 coins.

Bitcoin stays unchanged, while the vast majority of altcoins are in decline. The total market capitalization has reduced to $169 billion, down from $171 billion on Monday. The average daily trading volumes climbed to $44 billion from $39 billion the day before.

Top-3 coins price overview:

Bitcoin stays around $9,600 ahead of the US opening, mostly unchanged since the beginning of the day and down 6% since this time on Wednesday. From the short-term perspective, the world's biggest digital coin has a downside bias, while expanding volatility increases the chances of sharp moves in either direction.

Ethereum staged an impressive sell-off towards $252.00. The second-largest virtual coin has lost over 2% in recent hours, and nearly 9% since this time on Wednesday. The bearish trend is gaining traction, which means, $250.00 may come into focus soon.

Ripple's XRP slipped below $0.2700 to trade at $0.2660 by press time. The third-largest coin has been trading with bearish bias during Asian and European hours in sync with the market.

The biggest market-movers:

EOS and Chainlink (LINK) are the worst-performing altcoins on a day-to-day basis. Both coins lost over 12% in the recent 24 hours. Ethereum Classic (ETC), Tron (TRX) and Litecoin (LTC) are down 10%.

The market is driven by position liquidations on large exchanges and speculative sentiments.

Share: Cryptos feed

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.