Tanya Abrosimova
Independent Analyst
- Bitcoin has settled below $8,300, the short-term trend remains bearish.
- Altcoins are in a red zone, losing ground after a short-lived recovery.
The cryptocurrency market alternates between green and red days amid growing indecision. While Tuesday saw a strong recovery across the board, Wednesday brought some disappointment and pushed Bitcoin and all major altcoins back into the negative territory.
The market capitalization of all digital assets in circulation decreased to $220 billion from $224 billion on Tuesday, while an average daily trading volume dropped to to $53 billion from $63 billion the day before. Bitcoin’s market share edged to 67.8%.
Top-3 coins price overview
BTC/USD has lost 1.6% on a day-on-day basis and stayed unchanged since the beginning of the day amid growing bearish sentiments. The first digital coin staged a strong recovery above critical $8,000 on September 30, though the further upside seems to be limited at this stage. At the time of writing, BTC/USD is changing hands at $8,270. The coin touched an intraday high at $8,388 but failed to pass a strong technical barrier located in that area.
Ethereum, the second-largest digital asset with the current market capitalization of $19.1 billion, returned back below $180.00 handle. The coin has lost over 3.5% in recent 24 hours as the downside correction gained traction. ETH/USD retreated the intraday high of $178.00 to trade at $176.30 by the time of writing.
Ripple’s XRP has been on retreat during the recent 24 hours. The coin bumped into resistance on approach to $0.2600 and slipped back below $0.2500 barrier. The third-largest digital asset with the current market value of $10.7 billion has lost over 4% in recent 24 hours to trade at $0.2480 at 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
Polygon joins forces with WSPN to expand stablecoin adoption
WSPN, a stablecoin infrastructure company based in Singapore, has teamed up with Polygon Labs to make its stablecoin, WUSD, more useful in payment and decentralized finance.
Coinbase envisages listing of more meme coins amid regulatory optimism
Donald Trump's expected return to the White House creates excitement in the cryptocurrency sector, especially at Coinbase, the largest US-based crypto exchange. The platform is optimistic that the new administration will focus on regulatory clarity, which could lead to more token listings, including popular meme coins.
Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B
As Bitcoin (BTC) gets closer to the $100,000 mark for the first time — it crossed $99,000 earlier Friday — capital is rotating into alternative cryptocurrencies, creating a buzz in the broader crypto market.
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange
Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.
Bitcoin: Rally expected to continue as BTC nears $100K
Bitcoin (BTC) reached a new all-time high of $99,419, just inches away from the $100K milestone and has rallied over 9% so far this week. This bullish momentum was supported by the rising Bitcoin spot Exchange Traded Funds (ETF), which accounted for over $2.8 billion inflow until Thursday. BlackRock and Grayscale’s recent launch of the Bitcoin ETF options also fueled the rally this week.
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.