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.

Tanya Abrosimova Independent Analyst

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.

Author

Tanya Abrosimova

Independent Analyst

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