Bitcoin, Ethereum, Ripple overview: Bitcoin whales on shopping spree amid the bear market

  • Major cryptocurrencies are rangebound on Wednesday.
  • Crypto whales increased their wallet balances.

Cryptocurrency market is a mixed picture on Wednesday with Bitcoin and all major altcoins oscillating in tight ranges with no viable signs of an imminent breakthrough. However, the cryptocurrency market is known for its notorious unpredictability so that anything can happen before the next dawn in Asia.

The total capitalization of all digital assets in circulation has settled at $130B, marginally lower from Tuesday’s $130B.

Bitcoin (BTC) is lethargic marginally above $3,80o. Considering a confluence of strong technical indicators, the upside will be difficult until $3,900. A move higher will heighten the chances for another leg up, above $4,000. 

Ethereum (ETH) has settled above $139.00 after a short move to $135.70. The second largest coin is waiting for the upcoming Ethereum network updates, which makes it somewhat volatile. The event is scheduled for February 28, and if everything goes smoothly, ETH might experience a strong relief growth.

Ripple’s XRP, the third largest coin, is changing hands at $0.3188 as the upside caused by Coinbase pro listing news proved to be unsustainable. XRP’s volatility is expanding, while the short-term trend is bullish.

Meanwhile, some investors seem to increase their cryptocurrency exposure amid bearish market. The balances of the largest Bitcoin wallets increased by over 150 000BTC (about $570M) in recent two months, according to BitInforCharts.

The first five addresses with increased balances are known, they belong to cryptocurrency exchanges Bittrex, Bitfinex, Bitstamp, Huobi, and Binance. Their cumulative balance increased by 2 879 BTC to 574 000 BTC (about $2.17B) from 17 December 2018.

The owners of other top-100 wallet addresses are mostly unknown. Their cumulative balance grew by 151 405 BTC.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Analysis: $9200 is the level to beat for the BTC bulls

Bitcoin (BTC/USD) has entered a phase of consolidation after reversing sharply from the late-Saturday spike to $9195.19 highs. The choppy trend is likely to extend until a fresh volatility wave hits the crypto space again. Markets await a strong catalyst to revive the near-term bullish momentum.

More Bitcoin News

Bitcoin Cash: Downside appears compelling amid bearish technical set up

BCH/USD is seeing aggressive selling over the last hour, after having witnessed a volatile session late Saturday. The coin is teasing an ascending triangle on the hourly chart. Hourly RSI has pierced 50.00 from above, more losses likely?

More Bitcoin Cash News

XRP/USD remains bearish while below 21-DMA

Ripple’s range trade extends into the seventh day on Saturday. The coin looks promising but above the 21-DMA barrier. RSI on the daily chart holds in the bearish territory. US traders are away, celebrating the Independence Day long weekend. 

More Ripple News

Top 3 Price Prediction BTC, ETH, XRP: Crypto bears return starting out a fresh week

Bears are back amid a fresh selling wave across the crypto board. Bitcoin eyes Thursday’s low amid lack of healthy supports. Ethereum breaches key support, paving way for extra declines. Ripple is ranging in a tight band around 0.1770 so far this Sunday. 

More Cryptocurrencies News


Bitcoin Weekly Forecast: BTC volatility drops to a year low, get ready for a spiral drive

The week was tough for the cryptocurrency markets confined to tight ranges. Bitcoin has lost 1% of its value during the recent seven days with the trading range limited by $9,298 on the upside and $8,933 on the downside.

Read the weekly forecast