TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

Crypto market update: Bulls lick their wounds after Thursday’s carnage

  • Bitcoin flew up to $10,400 after dropping below $10,000 for the first time since 31st July.
  • Monero (XMR) was the biggest winner among the top 20 coins.
Crypto market update: Bulls lick their wounds after Thursday’s carnage
Rajarshi MitraRajarshi MitraIndependent Analyst

The crypto market tried to recover the prices after three straight bearish days. It looks like the bulls were spurred into action after Wednesday’s heavily bearish price movement. Let’s take a closer look at how the top three did and then reveal the biggest winners and losers of the day, among the top 20 coins.

Top three coins

  • Bitcoin: BTC/USD went below $10,000 for the first time since 31st July this Thursday, before it got corrected to $10,330 as of writing. BTC/USD 4-hour chart saw 14 straight red candles before the recovery began.
  • Ethereum: ETH/USD is currently consolidating in a flag formation. The price went up to $188.40 after dropping to $173 this Thursday. Currently, ETH/USD is trading for $186.40.
  • Ripple: XRP/USD is also trending in a flag formation. This Thursday, the price of the asset went up to $0.2647 after dropping down to $0.2414. XRP/USD is currently trading for $0.2613.

Biggest winners and losers (top 20 coins)

  • Monero (XMR) was the biggest winner with a 6.16% rise in price and is currently trading for $83.42.
  • Neo (NEO) went up by 5.27% and is currently trading for $10.
  • Chainlink (LINK) went up by 4.90% and is priced at $2.40.
     

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

More from Rajarshi Mitra
Share:

Editor's Picks

Ripple defends 50-day EMA as Standard Chartered launches RLUSD custody

Ripple defends 50-day EMA as Standard Chartered launches RLUSD custody

Ripple is coming under intense selling pressure, trading around $1.40 on Monday. The remittance token appears to lack the required tailwind to sustain its recovery, while broader crypto market headwinds weigh on price action.

NEAR Protocol rally stalls below $6 amid firm ETF inflows

NEAR Protocol rally stalls below $6 amid firm ETF inflows

NEAR Protocol is down 3% at press time on Monday, ticking lower after rallying 30% over the last three days as buying pressure eases. The recovery aligns with Bitwise’s NEAR-focused ETF recording its second weekly inflow of over $13 million last week.

Bitcoin struggles as ETF outflows, geopolitical uncertainty weigh

Bitcoin struggles as ETF outflows, geopolitical uncertainty weigh

Bitcoin steadies around $83,600 at the time of writing on Monday, after a 3.1% decline last week. Institutional demand shows weakening signs, with spot ETFs recording $681.10 million in net outflows last week, ending a three-week streak of inflows.

Crypto Today: Bitcoin, Ethereum and XRP face recovery headwinds as ETF outflows weigh

Crypto Today: Bitcoin, Ethereum and XRP face recovery headwinds as ETF outflows weigh

Cryptocurrency prices are broadly consolidating on Monday, with select tokens such as Ethereum slowly edging higher above $2,500. Bitcoin holds above $84,000 as bulls battle seller congestion, while Ripple consolidates around $1.40.

Bitcoin: Uptober or Rektober?

Bitcoin: Uptober or Rektober?

Bitcoin (BTC) price is down over 4% so far this week, trading below $83,000 at the time of writing on Friday as mounting selling pressure threatens to derail the seasonal “Uptober” rally. Profit-taking, a surge in long liquidations and weakening demand from institutional investors are weighing on BTC.