• Bears are at the driving wheel again, taking prices lower.
  • TRON and Ethereum are the biggest losers out of top-20.

Cryptocurrency market is falling again with Bitcoin and all major alt coins back on the red territory. The total capitalization of digital assets in circulation slipped from $124B to $121.4B on Wednesday. It seems that the short-term recovery is over. The market resumed the downside amid the lack of fresh, positive drivers.

Bitcoin is changing hands at $3.600 handle, down 1.5% since this time on Tuesday. The largest digital asset is trapped within a bearish trend, while failure to pass through critical resistance levels increases the downside pressure. Speculations about Russian plans to buy Bitcoins worth of $10B were not officially confirmed; thus the positive effect from the proposal faded away.

Ethereum sits under $122.00 resistance, rangebound during Asian hours and down over 5% on a day-over-day basis. The third largest coin with a market value of $12.7 may be vulnerable to losses due to Constantinople delay.

Read more about it here.

Ripple’s XRP is pretty stable at $0.3288. The coin is unchanged since the start of the day and down 1.5% d/d. XRP’s price development depends on overall cryptocurrency market sentiments, though it has been less volatile than other major altcoins recently.

TRON (TRX) is one of the biggest losers. The coin has lost nearly 5% in recent 24 hours to trade at $0.0244 by the time of writing. A scandal around TRON Accelerator contest is gaining traction and creating additional downside pressure for the coin.

 

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 & Analysis

Editors’ Picks

Altcoins push hard not waiting for a Bitcoin reaction

The Altcoin market has only needed one business day to see prices rise sharply again. Bitcoin, still, has adopted the anchor function and for the moment is giving up the battle for the $10000.

More Cryptocurrencies News

NEO/USD bullish following Binance Futures support

NEO is in the green on Monday during the European trading session. The bullish momentum is taking action after a couple of days of the bulls enduring battering from the bears.

More NEO News

ETH/USD tug of war at $270 intensifies as $280 beckons

Ethereum managed to stay above the support at $240 during the bearish Monday. Also contributing to the support was the long term ascending trendline. The recovery from the support has been steady enough to hit levels slightly above $270. 

More Ethereum News

Ripple Price Analysis: XRP/USD is bearish as long as it stays below $0.30

XRP/USD recovered to $0.2950 during early Asian hours only to retreat to $0.2850 by the time of writing. Despite the sell-off, the third-largest digital asset is still nearly 2% higher from this time on Monday and mostly unchanged since the beginning of the day. 

More Ripple News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC bulls brace for jump to $11,000

Bitcoin (BTC) has been growing for three weeks in a row. The first cryptocurrency hit $10,504 on Thursday - the highest level of 2020.

Read the weekly forecast

BTC

ETH

XRP