Tanya Abrosimova
Independent Analyst
- BTC/USD is again below $8,000 as the recovery has stalled.
- Altcoins are nursing losses on Monday.
Bitcoin and all major altcoins staged a good recovery on the weekend; however, the recovery has stalled in Asia on Monday with Bitcoin and all major altcoins are back in the red zone again. The total capitalization of all digital assets in circulation hit $247 billion from the recent low of $222 billion, while an average daily trading volume dropped to $87 billion by the time of writing.
Top-3 coins price overview:
- Bitcoin recovered to $8,300 during early Asian hours on Monday before retracing towards $7,974 by the time of writing. The first digital coin is down 2.8% since the start of the day; however, it is still moving within a long-term bullish trend.
- Ethereum, the second biggest digital asset, has lost over 4% on Monday amid sharp sell-off during Asian hours. ETH/USD touched $260 handle before retracing back below $250 area. At the time of writing, ETH is changing hands at $249.45, while its market value is registered at $26.5 billion.
- Ripple's XRP is trading at $0.4013 at the time of writing, down 4% since the beginning of Monday. The third largest coin has a total capitalization of $16.9 billion and an average daily trading volume of $2.7 billion.
The biggest market-movers:
- DASH (TRX) is the biggest winner of the day, up 14% on a day-on-day basis. TRX/USD is changing hands at $166 at the time of writing. The coin takes the 13th place in the cryptocurrency rating with the current market value of $1.4 billion.
- Bitcoin Cash (BCH) is another strong performer. The coin has gained over 7% since this time on Sunday to trade at $404. Now it is the fourth largest coin with the market value of $7.1 billion.
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
Top 3 meme coins price prediction Dogecoin, Shiba Inu, Bonk: Memes face steeper correction than Bitcoin
Dogecoin eyes February lows after nearly 23% decline in the past seven days. Shiba Inu could plummet another 13% amid the broader crypto market correction. Bonk price is likely to regain lost ground as technical indicators point at recovery.
XRP sustains above $0.50 as traders digest news of Ripple XRP Ledger entry in the Japanese market
Ripple (XRP) sustained above $0.50, a key support level, on Wednesday. XRP price is down nearly 6% in the past ten days. The altcoin is in a confirmed downward trend, and wiped out all gains since February.
Optimism OP struggles to gain momentum despite alleged $90 million OP purchase by a16z
Venture capital firm a16z has purchased $90 million in OP tokens under a two-year vesting period, Unchained crypto reports. Sources told Unchained Crypto that Optimism has done well and the project is still doing airdrops.
Sei price action forecasts an opportunity to accumulate SEI Premium
Sei (SEI) price is at a crossroads and could trigger a steep correction or potential bounce after setting up an all-time high (ATH) of $1.145 roughly a month ago. Based on the Bitcoin price action, a potential bounce will likely occur anytime now.
Bitcoin: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s (BTC) recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.