Tanya Abrosimova
Independent Analyst
- The market collapsed, the downside momentum si gaining traction.
- Major altcoins are nursing significant losses.
Cryptocurrency market is blood red. Bitcoin and all major cryptocurrencies are nursing substantial losses amid growing bearish sentiments. The total capitalization of all digital assets in circulation collapsed to $168 billion, from $181 on Thursday, while an average daily trading volume increased to $59B, compared to $53 billion on Thursday.
Top-3 coins price overview:
- Bitcoin (BTC) is hovering around $5,000 handle at the time of writing. The coin has lost about 6% on a day-on-day basis and stayed unchanged since the beginning of Friday, moving in a tight range amid low volatility.
- Ethereum (ETH) recovered from an intraday low of $159.74 to change hands at $163.50 at the time of writing. The coin has lost 7.6% on a daily basis and 1% form the start of the day. The second largest coin is moving within a bearish trend in sync with the rest of the market.
- Ripple’s XRP stays marginally above $0.3200. The third largest digital asset has lost nearly 8% in recent 24 hours and 2% since the beginning of Asian session on Friday. The short-term trend is bearish.
The biggest market-movers:
- Bitcoin SV is the biggest loser out of top-20 coins. It has lost over 14% of its value to trade at $69.62 at the time of writing amid growing downside momentum.
- Ontology (ONT), Bitcoin Cash (BCH), Ethereum Classic (ETC), Maker (MKR) are nursing losses over 12%.
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.
Recommended Content
Editors’ Picks
MANTA suffers 4% pullback after unlocking tokens worth $40 million
Manta Network (MANTA) unlocked over 8% of its circulating supply on Thursday. The unlocked tokens were airdropped and distributed in public sale, according to data from Tokenunlocks.
XRP struggles to recover as lingering Ripple lawsuit could reach Supreme Court, former SEC litigator says
The SEC vs. Ripple potential showdown at the Supreme Court is likely, says former SEC litigator Ladan Stewart. XRP Ledger calls developers, businesses and investors to build on the blockchain, extending Apex 2024 registration until April 30.
Bitcoin Layer 2 Merlin chain TVL climbs 20%, defying broad market correction
Merlin chain’s TVL added 20% this week, and crossed $800 million on Thursday. Bitcoin Layer 2 assets noted double-digit losses in the past week. Stacks, Elastos, SatoshiVM, BVM are hit by a correction as Bitcoin hovers around $61,000.
If Bitcoin restarts bull run, these altcoins are likely to explode Premium
If Bitcoin’s consolidation ends and the bull run resumes, altcoins are likely going to trigger a massive rally. Last cycle’s hot tokens like SOL, AVAX, WIF, ONDO, etc., could see renewed enthusiasm.
Bitcoin: BTC’s rangebound movement leaves traders confused
Bitcoin (BTC) price has been hovering around the $70,000 psychological level for a few weeks, resulting in a rangebound movement. This development could lead to a massive liquidation on either side before a directional move is established.