• The cryptocurrency market is losing ground, controlled by bears.
  • Bitcoin, Ethereum are still deep in red on a day-on-day basis.

The cryptocurrency market lived through another bloody red day as Bitcoin and all major altcoins are nursing significant losses ranging from 1% to 7%. The total capitalization of all digital assets in circulation dropped to $303 billion from $320 billion on Monday, while an average daily trading volume reduced to $86 billion from $90 billion this time on Monday. Bitcoin continued losing its market value, which is now 60.3% from over 63% registered in the previous week.

Top-4 coins price overview

Bitcoin (BTC/USD) settled above $10,000 handle after a short-lived collapse to $9,977 on Monday. The first digital asset is ov=ne of the worst performing coins out of top-20, with nearly 7% of day-on-day losses. A failure to recover above critical $11,000 may spell disaster for Bitcoin bulls and create an environment for a deeper downside correction.

Ethereum, the second largest digital asset with the current market capitalization of $30.60 billion, has lost over 3% of its value on a day-on-day basis. After a failed attempt to recover above $300, the price has settled at $288, within a whisker of the intraday low. ETH/USD is driven by the bearish sentiments that gripped the market, which means that the selling pressure will not subside in the nearest future.

Ripple's XRP clinches to $0.40 handle. The third largest digital asset with the current market capitalization of $17.0 billion has lost over 2% since the beginning of the day, and 3% on a day-on-day basis. At the time of writing, XRP/USD is changing hands at $0.4008, having recovered from the intraday lows of $0.3981

Litecoin (LTC/USD) is exploring territory below $120.0. The fourth largest coin with the current market capitalization of $7.3 billion managed to recover from the Asian low of $117.64, though its price is still 5% lower from this time on Monday. LTC/USD is moving in sync with the broader market.

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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Bitcoin adoption accelerates as coiling prices hint at explosive rally

Bitcoin price faces a stiff resistance wall that has prevented weak bullish momentum from passing through. As a result, a short-lived retracement has caused a majority of the market to follow suit despite BTC’s raging adoption and interest from institutions over the past week.

More Bitcoin News

VeChain upswing thwarted again as sell signals multiply

VeChain price shows an ambiguous outlook as it has set up a textbook uptrend with a series of higher highs and higher lows, but technical indicators hint at a downtrend.

More VeChain News

Judge reaffirms order SEC must produce documents on Bitcoin, Ether and XRP in Ripple case

Judge Sarah Netburn has restated that the Securities and Exchange Commission (SEC) must produce documents related to Bitcoin, Ether, and XRP amid the ongoing legal battle with Ripple Labs.

More Ripple News

Polkadot Price Prediction: DOT hints at minor retracement before resuming its rally

Polkadot price shows a slowdown in its bullish momentum that has resulted in sellers taking over. Now, a minor retracement could push DOT into a significant support barrier.

More Polkadot News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast

BTC

ETH

XRP