The cryptocurrency market update: Bitcoin and major altcoins locked in ranges amid low trading activity

Bitcoin has settled above $10,600, further upside is limited.
Ethereum Classic is the best-performing altcoin with nearly 5% of gains.

There are some green shoots on the cryptocurrency market in Asia; however, Bitcoin and all major altcoins are still locked in tight ranges. The total market capitalization stayed at $268 billion, unchanged from this time on Wednesday, while an average daily trading volume retreated to $50 billion; Bitcoin's market dominance edged higher towards $70.8%.

Top-3 coins price overview

At the time of writing, BTC/USD is changing hands at $10,610, mostly unchanged both on a day-on-day basis and since the beginning of Thursday. The first digital asset has settled above $10,600, however, the further upside seems to be limited due to low trading activity.

Ethereum, the second-largest digital asset with the current market capitalization of $18.9 billion, is changing hands at $175.87. The coin has lost nearly 2% of its value in recent 24 hours and touched $173.83 low during early Asian hours. Ethereum has retreated from the recent high at $183.00 and has been sliding down ever since.

Ripple's XRP slipped back below $0.2600 barrier amid range-bound trading with a bearish bias. We will need to see a sustainable move above this handle to mitigate an initial pressure and proceed with the recovery.

The biggest altcoin market-movers

Ethereum Classic (ETC) is the best-performing altcoin out of top-20 with nearly 5% of gains. ETC/USD is changing hands at $7.13 amid strong bullish trend. Ethereum Classic is now the 16th largest coin with the current market value of $807 million.

Share: Cryptos feed

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.