The cryptocurrency market is a mixed picture as traders try to reconcile new reality
- Bitcoin is hovering below $8,400 amid range-bound trading.
- Altcoins are moving without a clear direction.
The cryptocurrency market is a mixed picture in Asia on Thursday. Bitcoin has recovered from the recent lows, however, the upside momentum is still weak. Major altcoins are directionless, consolidating losses after the recent sell-off. The market capitalization dropped to $22 billion, while an average daily tradting volume is registered at $67 billion.
Top-3 coins price overview
At the time of writing, BTC/USD is hovering under $8,400. The first digital coin has recovered from the recent low of $8,150, however, it is still down 1.5% since this time on Wednesday. The bearish pressure is still strong amid growing anti-risk sentiments on the financial markets.
Ethereum, the second-largest digital asset with the current market capitalization of $18.3 billion has stayed unchanged in recent 24 hours. The coin hit the low of $155.62 and came back to $170.00 barrier; however, the further recovery seems to be limited.
Ripple's XRP settled above $0.2400. The third largest coin with the market value of $10.5 billion has regained 1.5% of its value since this time on Wednesday; however, the upside momentum remains weak amid overall bearish sentiments on the market.
Author
Tanya Abrosimova
Independent Analyst
