• Bitcoin retains gains amid downside correction of the altcoins. 
  • The upside movement may be resumed. 

The cryptocurrency market has stalled after a strong growth on Tuesday. All major altcoins have reversed earlier gains, while Bitcoin managed to hold the ground.  The total value of all digital assets in circulation is registered at $181 billion from $185 billion reached on Tuesday. The average daily trading volume stayed at $52B. 

Top-3 coins price overview: 

  • Bitcoin (BTC) is changing hands at $5,550, which is 3% higher from this time on Wednesday.  While the short-term trend is bullish, BTC is deeply overbought. It means that the downside correction is highly possible at this stage.   
  • Ethereum (ETH) crashed to $168.80 handle, after an epic growth to $177.67 on Tuesday. The second largest coin is down 1.6% from this time on Tuesday and nearly 5% from the recent high. ETH managed to recover from the intraday low of $166.93, moving within the short-term bullish trend.  
  • Ripple’s XRP is hovering around $0.3200, down 1.4% since this time on Tuesday. The coin has been locked in a tight range since the beginning of the day. 

The biggest market-movers:

  • Cardano (ADA) has turned from the market leader to an outsider with over 7% of day-on-day losses. The coin is changing hands at $0.0736. Now it takes the 10th place in the global cryptocurrency rating. 
  • Binance Coin is the second worst-performing cryptocurrency. The coin has lost nearly 7% of its value in recent 24 hours decpite the successful migration from Ethereum protocol to Binance Chain.  
  • IOTA is also a big loser. The coin is changing hands at $0.2922, down 6% from this time on Tuesday. 

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

War for dominance hit the bedrock of the market

The cryptocurrency market reaches the end of the week with widespread declines in the crypto market. The week has been dominated by a boiling Altcoin segment that has set very significant rises.

More Bitcoin News

BCH/USD in retreat after gaining 7% in a matter of minutes

Bitcoin Cash (BCH) is still in a red zone on a day-to-day basis; however, the coin recovered strongly from the intraday low of $232.60 and hit $240.00 in a matter of minutes. At the time of writing, BCH/USD is changing hands at $237.00.

More Bitcoin Cash News

ADA/USD extends the decline, $0.1000 at risk

Cardano (ADA) extended the decline and hit $0.1102 on Friday. The coin has lost 20% from the peak of $0.1386 reached on July 8. At the time of writing, ADA/USD is changing hands at $0.1120, down 9% in the recent 24 hours.

More Cardano News

ETH/USD volatility ousted as DeFi skyrockets to $2 billion

Ethereum alongside the largest cryptocurrency, Bitcoin are dealing with a peculiar situation characterized by low trading volume, poor investor interest as well as the lack of catalysts.

More Ethereum News

BEST CRYPTO BROKERS/EXCHANGES

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

BTC

ETH

XRP