Crypto market overview: Bitcoin (BTC) rangebound, altcoins under pressure
|- All major coins are in the red zone during Asian hours on Monday
- Bitcoin stays unchanged.
Bitcoin stays unchanged, while the vast majority of altcoins are in decline. The total market capitalization has reduced to $169 billion, down from $171 billion on Monday. The average daily trading volumes climbed to $44 billion from $39 billion the day before.
Top-3 coins price overview:
- Bitcoin stays in the middle of $5,100-$5,200 range, mostly unchanged both since the beginning of the day and since this time on Sunday. From the short-term perspective, the world’s biggest digital coin has an upside bias, though the volatility is shrinking.
- Ethereum staged an impressive recovery from the intraday low of $156.80 towards $160.00 handle. The second largest virtual coin has gained over 2% in recent hours, though it is mostly unchanged since this time on Monday.
- Ripple’s XRP slipped marginally below $0.3000 to trade at $0.2980 by press time. The third largest coin has been trading with bearish bias during early Asian hours amid shrinking volatility.
The biggest market-movers:
- Binance Coin (BNB), Bitcoin Cash (BCH), Ontology (ONT) has lost over 4% in recent 24 hours amid general bearish trend amid altcoins.
- Meanwhile, NEO is the best-performing coin with nearly 2% of gains since this time on Monday.
- The market is driven mostly by speculative sentiments and positioning, despite some positive fundamental developments, including the launch of instant cross-border payments by Saudi British Bank and the launch of IOTA-based solution by Jaguar.
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