Cryptocurrency market update: Bears regain control as Bitcoin (BTC) and major altcoins nursing losses


  • The cryptocurrency market is sliding; bulls are losing positions.
  • Sellers control Bitcoin and major altcoins during Asian hours on Friday.

The cryptocurrency market is a mixed picture with a mostly bearish bias on Friday. Bitcoin and all major altcoins are nursing losses after a short-lived recovery on Thursday. The total capitalization of all digital assets in circulation dropped to $318 billion from $331 billion on Thursday, while an average daily trading volume reduced to $76 billion from $86 billion this time yesterday. Bitcoin's market share dropped to  62.4%.

Top-4 coins price overview

Bitcoin (BTC/USD) touched the area below $11,000 handle during early Asian hours on Friday but managed to recover to $11,150 by the time of writing. The first digital has lost over 5.5% of its value since this time on Thursday and stayed unchanged since the beginning of the day; $11,000 remains a key for the further BTC price development.

Ethereum, the second largest digital asset with the current market capitalization of $30.5 billion, retreated lower after an unsuccessful attempt to break $300 barrier. ETH/USD has gained 1.2% since the beginning of the Asian session and lost over 4%   on a day-on-day basis. 

Ripple's XRP has continued moving to the South and touched $0.3788 during early Asian hours on Friday. The coin has lost 1.1% since the beginning of the day to trade at $0.3830 by the time of writing. The third largest digital asset with the current market capitalization of $16.3 billion has lost 4.5% on a day-on-day basis.

Litecoin (LTC/USD) is hovering below $120.0 amid slow market activity. The fourth largest coin with the current market capitalization of $7.5 billion touched $120.12 during early Asian hours, but the upside momentum proved to be unsustainable. At the time of writing, LTC/USD is changing hands at $119.75, mostly unchanged on a day-on-day basis.

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


Latest Crypto News & Analysis

Editors’ Picks

Polkadot: Must reclaim key level for a chance to see new all-time highs

Polkadot price is contained inside a symmetrical triangle pattern on the 4-hour chart. The digital asset faces a key resistance level which could be the key to new all-time highs. Investors are interested in Polkadot as a potential alternative to Ethereum in the long-term.

More Polkadot News

VeChain: Edges closer to a breakout

VET price is consolidating in a descending parallel channel on the 1-hour chart. A decisive close above $0.048 will signal a breakout from the consolidation pattern and trigger a quick 5.65% upswing.

More VeChain News

Ocean Protocol’s latest developments could provide OCEAN price tailwind for a 60% upswing

Ocean Protocol announces a collaboration with Benchmark protocol to expand the DeFi data economy. Now, it's price needs to reset before it goes on a 60% bull rally to new highs.

More Cryptocurrencies News

Fundamentals grow strong despite crypto market-wide correction

Kraken CEO believes Bitcoin will hit $1 million. Leading brokerage firm Charles Schwab is planning to roll out crypto trading services.

More Cryptocurrencies News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: BTC journey to $100,000 might be easier than expected

This past week has been extremely beneficial for Bitcoin which jumped by 30% since Monday 8. Several positive announcements, especially Tesla purchasing $1.5 billion worth of the digital asset propelled the flagship cryptocurrency to new highs.

Read the weekly forecast

BTC

ETH

XRP