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

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

Tanya Abrosimova

Independent Analyst

 

More from Tanya Abrosimova
Share:

Editor's Picks

Ripple Price Forecast: Sellers retain control as Evernorth Holdings files with SEC to buy more XRP

Ripple Price Forecast: Sellers retain control as Evernorth Holdings files with SEC to buy more XRP

Ripple’s (XRP) correction on Monday is deepening below $1.30, reflecting growing headwinds in the broader cryptocurrency market. Based on the token’s technical picture, the path of least resistance could stay downward until the $1.30 supply area flips into support.

Bitcoin stalls around $80,000 as geopolitical tensions dampen risk appetite

Bitcoin stalls around $80,000 as geopolitical tensions dampen risk appetite

Bitcoin hovers around $80,500 on Monday after three straight weeks of correction. Rising geopolitical tensions in the Middle East continue to push oil prices higher, stoking inflation concerns and dampening risk appetite.

Crypto Today: Bitcoin, Ethereum and XRP extend losing streak as bearish momentum builds

Crypto Today: Bitcoin, Ethereum and XRP extend losing streak as bearish momentum builds

Cryptocurrency prices are broadly correcting on Monday, led by Bitcoin’s five-day sell-off. Ethereum edges lower and trades around $2,325, as sellers build momentum to retain control over the trend. Meanwhile, Ripple shows signs of consolidating.

Pi Network Forecast: PI token remains under bearish pressure despite network access and security upgrade

Pi Network Forecast: PI token remains under bearish pressure despite network access and security upgrade

Pi Network trades around $0.075 on Monday, holding steady after two consecutive days of roughly 2% losses, resulting in the lowest weekly close ever. Pi Network rolled out desktop version 0.6.4 on Thursday, focused on improving remote access and security for local AI apps.

Bitcoin extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin remains under pressure, trading around $81,800 on Friday, recording modest losses so far this week. Despite a mild pullback, institutional demand showed signs of a comeback with spot Exchange Traded Funds recording $442.67 million in net inflows through Thursday.