Cryptocurrency market update: Bitcoin (BTC) bulls lick wounds after Tuesday's carnage

  • Bitcoin and major altcoins are range-bound during Asian hours. 
  • Most top coins are nursing losses on a day-on-day basis.

The cryptocurrency market failed to keep with the upside momentum. Bitcoin (BTC) and all significant altcoins are in a red zone, losing from 1% to 6% on a day-on-day basis. The total capitalization of all digital assets in circulation settled $304 billion. An average daily trading volume is registered at $67 billion, while Bitcoin's market share hit the new high at 68.2%.

Top-4 coins price overview

Bitcoin hit $12,325 on Tuesday before collapsing to $11,200. While the first digital coin has recovered towards $11,560 by the time of writing, it is still down 1.6% on a day-on-day basis. BTC/USD has been range-bound during early Asian hours after wild gyrations of the previous day.

Ethereum, the second-largest digital asset with the current market capitalization of $24.3 billion, has lost 1.1% on a day-on-day basis and stayed unchanged since the beginning of Wednesday. ETH/USD recovered from an intraday low of $224.17 and settled at $226.00 by the time of writing.   

Ripple's XRP has lost nearly 2% of its value since this time on Tuesday to trade at $0.3126 by press time. Meanwhile, the third-largest coin with the market value of $13.4 billion is still moving inside the range with the channel support at $0.3100.

Litecoin has lost 2.6% in recent 24 hours to trade at $92.80. The coin now takes fifth place in the global cryptocurrency market rating with the current value of $5.8 billion. LTC/USD has been very volatile in recent days.

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 & Analysis

Editors’ Picks

Crossroads in the war for dominance

At the beginning of the day, the crypto market is awaiting the resolution of two critical technical events for the development of prices in the short and medium-term.

More Bitcoin News

XRP/USD bounces off $0.20 only to run into trendline resistance

Ripple has started to nurture a consolidative move between $0.20 support and $0.21 resistance. Earlier this week, the price spiked above $0.215 but failed to overcome the resistance at the descending trendline. 

More Ripple News

Cardano Market Analysis: ADA/USD rushes to the North as Shelly update looms

The price of Cardano (ADA) has been on fire. The price increased from $0.4950 on May 21 to $0.0889 by press time. Moreover, the coin tested $0.0900 during early Asian hours, which is the highest level since June 28, 2019. 

More Cardano News

LTC/USD resumes the recovery after sell-off, $48.00 in focus

Litecoin (LTC) attempted a recovery above $48.00 during early Asian hours on Thursday, but failed to hold the ground and dropped to as low as $46.26 (intraday low).

More Litecoin News


Bitcoin Weekly Forecast: BTC/USD bulls fight for every inch of the ground on their way to $10,000

After a sharp sell-off at the beginning of the week, BTC/USD climbed back above $9,000 and made its way above another important resistance $9,300.

Read the weekly forecast