Cryptocurrency market update: Bitcoin hovers at $9,300, altcoins range-bound with bullish bias


  • Bitcoin has settled at an important barrier of $9,300.
  • Tezos and ZCash are the biggest losers of the day.

 
The cryptocurrency market is in recovery mode as Bitcoin and all major altcoins have gained some ground in recent 24 hours. The total market capitalization increased slightly to $289 billion; an average daily trading volume reduced to $50 billion. Notably, the trading volumes have been sliding since the beginning of the week, signaling that the market is in prone to range-bound trading.

Top-3 coins  price overview

  • BTC/USD is hovering at $9,300. The first digital coin has gained nearly 1.5% in recent 24 hours and stayed mostly unchanged since the beginning of Thursday trading. We need to see a sustainable move above $9,350 for the upside to gain traction.
  • Ethereum, the second largest digital asset with the current market capitalization of $28.7 billion, stays under $270 handle despite the recovery from the intraday low. At the time of writing, ETH/USD is changing hands at $269, having gained about 1% in recent 24 hours. 
  • Ripple's XRP has settled well above $0.43, though the upside momentum is losing traction. The third largest coin with the current market capitalization of $18.4, has grown by 1% from this time on Wednesday and stayed mostly unchanged since the beginning of Thursday trading.

The biggest market-movers

  • Tezos (XTZ) is one of the worst-performing cryptocurrency on Wednesday. The coin slipped from the 19th place in the global cryptocurrency rating. Now it takes the 20th position and has a market value of $790 million. XTZ/USD is changing hands at $1.20, down 3% on a day-on-day basis.
  • ZCash (ZEC) is also a big loser today. The coin is down over 4% on a day-on-day basis, trading at $110.10 at the time of writing. This is the 22nd coin in CoinMarketCap's rating with the current market capitalization of $747 million.

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 market update: BTC/USD revives the uptrend – Steps above $9,500

BTC/USD trading pair appears to have found support above $9,000. A rebound from the support has pulled above $9,500 amid a building bullish momentum across the market. 

More Bitcoin News

Ripple price analysis: XRP/USD defends falling wedge support; breakout still lingers

Ripple continued to press against key support areas yesterday. The downside momentum was augmented by the broad-based selling pressure in the market. As discussed yesterday, the upside was capped at $0.32 while XRP/USD sustained above $0.30. 

More Ripple News

Retail Investors Can Now Bet on Bitcoin Hitting $100,000 by 2020

This bullish bet on Bitcoin is the first crypto derivatives product open to mom and pop investors since LedgerX sealed approval from the U.S. Commodity Futures Trading Commission (CFTC) to serve as a designated contract market for clients of any size, as Cointelegraph reported in June. 

More Bitcoin News

Bitcoin Cash market update: BCH/USD edges its way towards $300

Bitcoin Cash is revamping the uptrend after falling victim to selling pressure for the second time in the same week. The initial drop towards the end of the last week culminated in a dive under $300 on Monday this week. 

More Bitcoin Cash News

Bitcoin Weekly Forecast: BTC bulls get ready for a major assault

The cryptocurrency market has been pretty volatile this week. Bitcoin stayed in the green zone despite wild price gyrations, while major altcoins are nursing double-digit losses on a week-on-week basis.

Read the weekly forecast

BTC

ETH

XRP