Cryptocurrency market update: Bitcoin bulls hit the pause button
|- Bitcoin stays above the barrier of $10,000 despite the retreat
- NEO the worst-performing altcoin with over 8% of losses since the beginning of Monday.
The cryptocurrency market has entered a correction phase after a sharp growth during the weekend. Bitcoin and all major altcoins are in a red zone, moving away from the recent highs.
The total market capitalization retreated to $321 billion from $327 billion on Sunday; an average daily trading volume reduced to $69 billion. Notably, Bitcoin dominance climbed back to 59%.
Top-3 coins price overview
- BTC/USD is changing hands at $10,600, mostly unchanged in recent 24 hours and down 2% since the beginning of Monday. The first digital coin touched $10,850 during early Asian hours but failed to hold the ground.
- Ethereum, the second largest digital asset with the current market capitalization of $32.3 billion, retreated from the recent high of $317, though it still stays above $300. At the time of writing, ETH/USD is hovering at $302, down 3% in recent 24 hours and over 1% since the beginning of Saturday.
- Ripple's XRP is under significant selling pressure. The third largest coin with the current market capitalization of $19.4, has lost nearly 5% from this time on Sunday and over 2% since the beginning of Monday trading. At the time of writing, XRP/USD is changing hands at $0.4567.
The biggest altcoin market-movers
- NEO has turned from the growth leader into an outsider. The 18th largest coin with the current market value of $1.17 billion has lost nearly 9% of its value in recent 24 hours to trade at $16.62 by press time.
- EOS and Litecoin (LTC) are also under heavy selling pressure. Both coins are down nearly 5% on a day-on-day basis.EOS/USD is trading at $7.16, while LTC/USD is hovering around $134.50.
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