The cryptocurrency market update: Bitcoin and major deep in read, not recovery in sight
|- Bitcoin is hovering around $9,600, way below critical $10,000.
- TRON is the worst-performing altcoin with over 11% of losses.
The cryptocurrency market is a sea of red. A strong sell-off was fed by growing bearish sentiments after Bitcoin's unsuccessful attempt to develop a sustainable recovery at the beginning of the week.
The total market capitalization slumped to $249 billion; an average daily trading volume increased to $16 billion, while Bitcoin's market dominance climbed above $69.0%.
Top-3 coins price overview
BTC/USD is hovering at $9,600, within an arm’s reach of the intraday low registered at $9,530. The first digital asset has lost about 1.5% since the beginning of the day and over 5% on a day-on-day basis. The coin is consolidating losses with a bearish bias, though an oversold state may imply that the short-term correction is just about the corner.
Ethereum, the second-largest digital asset with the current market capitalization of $18 billion, has settled marginally above $170.-0. The coin has lost over 8% of its value in recent 24 hours. ETH/USD is moving within a strong bearish trend amid growing volatility.
Ripple's XRP is changing hands at $0.2535 at the time of writing. XRP/USD has lost nearly 5% of its value in recent 24 hours and 1% since the beginning of the day.
The biggest altcoin market-movers
TRON (TRX) is the biggest loser of the day. The coin is down 11% from this time on Wednesday. Huobi Token and Binance Coin are also outsiders. Both coins are down more than 10%.
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