Tanya Abrosimova
Independent Analyst
- The cryptocurrency market stays under pressure, vulnerable to losses.
- Bitcoin recovered from intraday losses; positive momentum is fading away.
The cryptocurrency market is consolidating losses after a plunge during late US hours on Wednesday. The total capitalization of all digital coins in circulation plunged to $238 billion from #250 billion the day before; an average daily trading volume settled at $75 billion, according to the statistics provided by CoinMarketCap.
Top-3 coins price overview
Bitcoin is changing hands at $7,646, losing over 3.5% since this time on Wednesday. The first digital coin dipped to $7,535 during early Asian hours but managed to recover as new buyers popped in.
Ethereum, the second largest digital asset with the current market capitalization of $25.8 billion, is trading at $242. ETH/USD has lost over 5% of its value in recent 24 hours. The price came close to $240.00 barrier and recovered to $242.90 by the time of writing.
Ripple's XRP tested waters below $0.3700 but settled at 40.3722 by press time. The coin is down 6% on a day-on-day basis and mostly unchanged since the beginning of Thursday.
The biggest market-movers
NEM and Cosmos are the biggest losers of the day. Both coins are nursing day-on-day losses of over 11% amid growing bearish pressure.
Bitcoin SV (BSV) is down 10%. The coin has corrected after a strong rally on Wednesday triggered by the news that Craig Wright obtained a copyright for Bitcoin's white paper. BSV is changing hands at $101.67.
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.