Tanya Abrosimova
Independent Analyst
- The cryptocurrency market is sliding; bulls are losing positions.
- Sellers control Bitcoin and major altcoins during Asian hours on Friday.
The cryptocurrency market is a mixed picture with a mostly bearish bias on Friday. Bitcoin and all major altcoins are nursing losses after a short-lived recovery on Thursday. The total capitalization of all digital assets in circulation dropped to $318 billion from $331 billion on Thursday, while an average daily trading volume reduced to $76 billion from $86 billion this time yesterday. Bitcoin's market share dropped to 62.4%.
Top-4 coins price overview
Bitcoin (BTC/USD) touched the area below $11,000 handle during early Asian hours on Friday but managed to recover to $11,150 by the time of writing. The first digital has lost over 5.5% of its value since this time on Thursday and stayed unchanged since the beginning of the day; $11,000 remains a key for the further BTC price development.
Ethereum, the second largest digital asset with the current market capitalization of $30.5 billion, retreated lower after an unsuccessful attempt to break $300 barrier. ETH/USD has gained 1.2% since the beginning of the Asian session and lost over 4% on a day-on-day basis.
Ripple's XRP has continued moving to the South and touched $0.3788 during early Asian hours on Friday. The coin has lost 1.1% since the beginning of the day to trade at $0.3830 by the time of writing. The third largest digital asset with the current market capitalization of $16.3 billion has lost 4.5% on a day-on-day basis.
Litecoin (LTC/USD) is hovering below $120.0 amid slow market activity. The fourth largest coin with the current market capitalization of $7.5 billion touched $120.12 during early Asian hours, but the upside momentum proved to be unsustainable. At the time of writing, LTC/USD is changing hands at $119.75, mostly unchanged on a day-on-day basis.
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
Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch
Bitcoin price continues to edge down, trading below $95,000 on Friday after declining more than 9% this week. Bitcoin US spot ETFs recorded the highest single-day outflow on Thursday since their launch in January.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction
Solana (SOL) price trades in red below $194 on Friday after declining more than 13% this week. The recent downturn has led to $38 million in total liquidations, with over $33 million coming from long positions.
SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs
The SEC approved Hashdex's proposal for a crypto index ETF. The ETF currently features Bitcoin and Ethereum, with possible additions in the future. The agency also approved Franklin Templeton's amendment to its Cboe BZX for a crypto index ETF.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin (BTC) price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot Exchange Traded Funds (ETFs) in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.