Cryptocurrency market update: Bitcoin creeps back to $13,000 after a roller-coaster trading

Bitcoin (BTC) set a new record on Wednesday hitting $13,700, which is the highest level since January 18, 2018. However, the stellar growth proved to be unsustainable as the coin crashed to $12,700 in a matter of hours. The exceptional volatility created an anti-risk sentiment on the market and caused an exodus from altcoins. The total market capitalization is registered at $365 billion, down from the recent high of $387 billion; an average daily trading volume catapulted to $138 billion. Bitcoin's market dominance surpassed 63%.

Top-3 coins  price overview

• BTC/USD is changing hands at $12,780, having gained nearly 2% since this time on Wednesday. The first digital coin touched $13,335 high during early Asian hours but retreated below critical $12,000.  
• Ethereum, the second largest digital asset with the current market capitalization of $35.8 billion, has settled at $335, down from the intraday high registered at $342. ETH/USD has gained 1.7% in recent 24 hours and stayed unchanged since the beginning of the day.
• Ripple's XRP is under pressure in Asia. The third largest coin with the current market capitalization of $19.6, has lost over 4% since this time on Wednesday and stayed unchanged since the beginning of the day. At the time of writing, XRP/USD is changing hands at $0.4585.

The biggest altcoin market-movers

• EOS and Bitcoin SV (BSV) are the biggest losers among top-20 altcoins. Both coins have lost over 8% of its value in recent 24 hours to trade at $6,67 and $219.67 respectively.
• Chainlink (LINK) is an unexpected growth leader of the day. The coin jumped to the 21st place in the global cryptocurrency market rating, having gained over 15%. At the time of writing, the coin is changing hands at $2.42.