Cryptocurrency market overview: altcoins run the show

Cryptocurrency market picture is mixed.
Bitcoin is glued to $4,000 handle.
Tron is an obvious leader of the day with over 19% gains.

Tanya Abrosimova Independent Analyst

The cryptocurrency market is a mixed picture today with some major altcoins including Ripple's XRP, TRON (TRX), EOS, Cardano (ADA), and DASH growing strongly despite Bitcoin's sluggish consolidation. The altcoins' rally took the total cryptocurrency market capitalization to $138B from Wednesday's low of $136.3B.

Bitcoin is hovering around to $4,000 handle. The largest digital coin is mostly unchanged both on a daily basis and since the beginning of Thursday. Depressingly low volatility keeps BTC squeezed in a narrow range limited by $4,050 on the upside and $3,980 on the downside.

Ethereum, the second largest coin in Coinmarketcap's rating, lost 1.5% of its value since this time on Wednesday to trade at $151.67 by the time of writing. ETH/USD is pressured down by the upcoming Constantinopole upgrade; however, the short-term trend remains bullish as long as it stays above $150.00 handle.

Ripple's XRP, the third largest coin by market capitalization, has gained over 3% on a day-to-day basis. The coin tested area above $0.3900 during early Asian hours, however, the breakthrough was not confirmed as it returned to $0.3800 fairly quickly amid profit taking on speculative positions. XRP/USD is changing hands at $0.3798 at the time of writing.

Tron (TRX) is still the best-performing altcoin with nearly 20% of gains on a day-to-day basis. TRX surpassed Tether by market value and took the 8th place in Coinmarketcap's rating. The coin's capitalization is registered at $2B; an average daily trading volume is creeping closer to $400M which is twice as much as at the beginning of the week.

Read more about TRON momentum

Author

Tanya Abrosimova

Independent Analyst

Pi Network Price Forecast: Mild recovery in PI marks early signs of trend reversal

Pi Network shows a mild recovery on Friday, following three consecutive days of consolidation, as selling pressure eases after a steep decline earlier this month. Speculative demand for a potential rebound in PI is on the rise as its Open Interest remains elevated. Technically, PI holding steady at key support amid oversold momentum implies a potential recovery ahead.

Bonk Price Forecast: Extends losses as hacker moves stolen tokens to Binance

Bonk extends its losses, trading below $0.0000034 on Friday, losing over 16% so far this week. The ongoing correction was fueled by on-chain data indicating that the hacker behind the recent exploit transferred a portion of the stolen tokens to Binance.

Zcash Price Forecast: ZEC maintains bullish structure above key retracement support

Zcash is up over 2% recovering from an 8% decline the previous day. The privacy coin maintains its retail strength with a rising funding rate despite a minor contraction in ZEC futures Open Interest. Technically, ZEC retains a structural upward trend above its crucial moving averages with an upside toward $690.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC and ETH stall below key EMAs, XRP holds crucial support

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) came under renewed selling pressure during the second half of the week after staging a modest recovery earlier in the week. BTC trades below $63,600 on Friday, while ETH slips below $1,860 after facing rejection at key resistance levels. Meanwhile, XRP continues to hold above a crucial support zone, keeping its recovery outlook intact.

Bitcoin: Strategy sells, the market doesn’t care

Bitcoin (BTC) reclaims $64,000 on Friday, extending a modest recovery while holding firmly above the key technical support zone so far this week. Mixed spot Exchange Traded Funds (ETFs) flows through Thursday reflect cautious institutional positioning. Meanwhile, traders have digested headlines about Strategy’s recent Bitcoin sale, highlighting the Crypto King’s resilience and deep liquidity.