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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin price analysis: BTC/USD jumps on US-China trade war escalation

Bitcoin (BTC) has built up a strong upside momentum during early Asian hours on Monday. The first digital coin has recovered from $9,900 and hit $10,665 high in a matter of hours amid strong bullish sentiments and growing trading volumes.

More Bitcoin News

The cryptocurrency market update: Bitcoin and major altcoins recover from Sunday’s sell-off

The cryptocurrency market is recovering down during early Asian hours with Bitcoin and the vast majority of altcoins navigating the green zone. The total market capitalization has settled at $268.9 billion

More Cryptocurrencies News

Litecoin price analysis: LTC/USD regains some ground, still below critical $80.00

At the time of writing, LTC/USD is changing hands at $74.30. The coin recovered above $74.00 during early Asian hours amid strong bullish momentum on the cryptocurrency market. 

More Litecoin News

Ripple technical analysis: XRP/USD sustained uptrend hints breakout above $0.3

Ripple price is lethargic under $0.28 short-term hurdle but $0.27 is a credible support area in the short-term. Despite the visible declines in the short timeframe charts, XRP/USD has sustained an uptrend from August lows close to $0.24.

More Ripple News


Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast