- Bitcoin and major altcoins are range-bound with bearish bias after a short-lived recovery.
- We need a new catalyst to set the ball rolling.
The cryptocurrency market has slipped back into a red zone after a short-lived recovery. Bitcoin (BTC) returned to the area below $10,000, while all significant altcoins are nursing losses from 1.5% to 5%.
The total capitalization of all digital assets in circulation dropped to $269 billion from $278 billion this time on Thursday. The total trading volume slipped to $49 billion from $59 billion this time on Wednesday. Bitcoin's market share has reduced to 64.6%.
Read also: Survey says that Americans prefer Bitcoin over Facebook's Libra
Top-4 coins price overview
Bitcoin (BTC/USD) touched the intraday low at $9,657 before recovering above $9,700 by the time of writing. Despite the recovery, the upside momentum remains weak. Bears retain control over the market as long as BTC/USD stays below critical $10,000. BTC/USD has lost over 3.5% on a day-on-day basis and 1/5% since the beginning of Friday.
Ethereum, the second-largest digital asset with the current market capitalization of $23 billion, has lost nearly 3% on a day-on-day basis and 2% since the start of the Asian session on Friday. ETH/USD is hovering above $214, off the intraday high registered at $219.50.
Ripple's XRP stays above $0.3100 amid low market activity. Ripple's current market capitalization is registered at $13.3 billion, while an average daily trading volume has decreased below $1 billion. The coin has lost over 2% on a day-on-day basis and stayed unchanged since the beginning of Friday.
Litecoin (LTC/USD) dropped as low as $90.30 during early Asian hours on Friday and recovered above $91.00 by the time of writing. The fourth-largest coin with the current market capitalization of $5.7 billion, has lost 3.5% on a day-on-day basis.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Prisma price tanks 25% after nearly $9 million exploit
Prisma Finance (PRISMA) is being exploited, and the attacker has so far pulled $9 million in Ethereum from the borrowing protocol. Prisma asked vault owners to take the necessary steps to protect funds from the ongoing attack in an official tweet on X.
Meme coins gain traction after SEC’s partial win in Coinbase lawsuit: DOGE, SHIB, BRETT, POPCAT, BODEN
US SEC pocketed a partial win in its lawsuit against Coinbase, ushering a correction in crypto prices on Thursday. Despite the broad pullback, prices of meme coins like Dogecoin, Shiba Inu and Solana-based BRETT, POPCAT and BODEN increased.
Ondo moves $95 million worth of OUSG assets to BUIDL as tokenized fund attracts $245 million since debut
Ondo Finance (ONDO) announced on Wednesday that it's shifting about $95 million worth of its OUSG's underlying assets to the BlackRock USD Institutional Digital Liquidity Fund (BUIDL).
XRP price stuck below $0.65 resistance, Ripple lawsuit could suffer from Coinbase defeat
XRP price falls slightly to $0.61 on Thursday after its landmark programmatic sales ruling in July, which gave Ripple a partial victory against the US SEC, failed to reverberate in a similar legal battle between the regulator and crypto exchange Coinbase.
Bitcoin: BTC may have recovered, but is it out of the woods?
Bitcoin’s (BTC) upward momentum has shown a significant decline for the past two weeks or so. This development led to a bearish signal on the weekly and an uncertain outlook on the monthly.