Crypto market update: traders shed altcoins and flock to Bitcoin, BTC/USD passes $6,200

  • Bitcoin's bull trend gaining speed.
  • Altcoins are nursing substantial losses.

Bitcoin broke above $6,200 handle at set a new maximum of 2019 at $6,234 amid strong bullish momentum. The trading volumes of the first digital coin are also on the rise, while Bitcoin dominance surpassed 58.00% and hit the highest level since December 2017. At the time of writing, BTC/USD is changing hands at $6,215, gaining nearly 3% in recent 24 hours.

Top-3 coins price overview:

  • Notably, Bitcoin (BTC) is the only growing coin out of top-20. All major altcoins are nursing deep day-on-day losses from 1% to 10%.
  • Ethereum has recovered from the intraday low of $168.20 to trade above $170.00 by the time of writing. However, the second largest digital asset is still down 1.4% in recent 24 hours.
  • Ripple’s XRP finally lost $0.30 to trade at $0.2934. XRP/USD stays close to the Asian low $0.2929.

The biggest market-movers:

  • Cosmos (ATOM) is the biggest lower of today. The 15th largest coin has lost over 9% on a day-on-day basis to trade at critical $4.00.
  • Tezos (XTZ), Cardano (ADA), Binance Coin (BNB) are all down over 7% in recent 24 hours amid global sell-off and general pivot to Bitcoin on the market.

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

Bears take over and draw a bloody moon

Cryptographer and computer scientist Nick Szabo, has presented in his Twitter account a study on the "risk-benefit" ratio of different assets. The study used a Sharpe Ratio over four years Hodl period.

More Bitcoin News

ETH/USD bears flip the bulls, target shifts to $5

Ethereum Classic is facing the ultimate correction following a massive bull-run that had it hit January highs around $12 from December lows at $3.41. The persuasive urge upwards has, however, ended in losses due to a lack of ...

More Ethereum Classic News

Ripple's CEO sees an era of IPO in cryptocurrency industry

Ripple's XRP, the third-largest digital asset with the current market value of $9.4 billion has lost over 5% in recent 24 hours and hit the low of $0.2136 on Friday. XRP/USD is moving within a clear bearish trend amid expanding volatility.

More Ripple News

The Crypto Sector in selloff mode searches a support zone

Most of the cryptocurrency sector accelerated the losses after breaking the neckline of support that was holding their prices. The selling pressure was in almost all digital assets.

More Cryptocurrencies News


Bitcoin Weekly Forecast: Bitcoin bulls and bear fight gets a tougher edge

The cryptocurrency market started the downside correction after a strong rally initiated by risk reversal play at the beginning of January and reinforced by various altcoin pumps...

Read the weekly forecast