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.

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