• Bitcoin dropped below $8,000, trading with a short-term bearish bias.
  • Altcoins are moving without down in sync with the first cryptocurrency. 

The cryptocurrency market resumed the decline after a short-lived recovery attempt. Bitcoin and all major altcoins are deep in red, nursing losses from 1% to 5%. The market capitalization of all digital assets in circulation reduced to $209 billion from $216 billion on Sunday; an average daily trading volume settled at $48 billion. Bitcoin’s market share retreated to 67.5%. 

Top-3 coins price overview 

BTC/USD has lost nearly 4% both on a day-on-day basis and since the beginning of the day amid strong bearish pressure. The first digital coin settled below critical $8,000, which an unhappy development for short-term Bitcoin bulls. At the time of writing, BTC/USD is changing hands at $7,770. moving within a bearish trend amid receding volatility. We will need to see a sustainable move above $8,000 to mitigate an immediate bearish pressure.
 
Ethereum, the second-largest digital asset with the current market capitalization of $18.1 billion is sliding down in sync with the market. The coin has lost over 2% in recent 24 hours to trade at $166.70 at the time of writing. ETH/USD touched the low of $165.44 during early Asian hours before recovering above $166.00.  The short-term trend is bearish as long as ETH/USD stays below $170.00.
  
Ripple’s XRP is locked in a tight range. The coin is hovering around $0.2400 handle, demonstrating relative strength amid general market sell-off.The third largest digital asset with the current market value of $10.3 billion has stayed mostly unchanged both on a day-on-day basis and since the beginning of Monday.


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


Recommended Content

Editors’ Picks

US presidential election outcome could shape the future of crypto

US presidential election outcome could shape the future of crypto

US citizens will go to the polls to elect a new president on November 5, and their choice could be key for the future of the crypto industry and thus the price outlook for Bitcoin (BTC).

More Cryptocurrencies News
Bitcoin Price Forecast: BTC recovers as Donald Trump takes lead on polls

Bitcoin Price Forecast: BTC recovers as Donald Trump takes lead on polls

Bitcoin (BTC) slightly recovered to around $68,800 on Tuesday, following a shift in the United States presidential race that saw former President Donald Trump regain the lead, after US spot Bitcoin ETFs experienced an outflow of over $540 million on Monday.

More Bitcoin News
Crypto markets brace for volatility in tight race between Trump and Harris

Crypto markets brace for volatility in tight race between Trump and Harris

The US presidential election is one of the most significant events in the world. Due to the influence of the country’s political decisions, policies, and economic approaches, it can significantly impact crypto and global markets. 

More Cryptocurrencies News
Trump-inspired memecoin MAGA shows bullish on-chain metrics ahead of US elections

Trump-inspired memecoin MAGA shows bullish on-chain metrics ahead of US elections

MAGA (TRUMP) trades slightly down to around $3.4 on Tuesday after rallying more than 20% since Sunday. The former President Donald Trump-based memecoin is poised for further gains as daily active addresses and network growth metrics rise, signaling increased network usage and adoption

More Cryptocurrencies News
Bitcoin: New all-time high at $78,900 looks feasible

Bitcoin: New all-time high at $78,900 looks feasible

Bitcoin price declines over 2% this week, but the bounce from a key technical level on the weekly chart signals chances of hitting a new all-time high in the short term. US spot Bitcoin ETFs posted $596 million in inflows until Thursday despite the increased profit-taking activity.

Read full analysis
Best Forex Brokers with Low Spreads

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.

Read More

BTC

ETH

XRP