• Bitcoin is hovering above $9,700 after a sharp sell-off.
  • Altcoins are consolidating with a bearish bias.

The cryptocurrency market has switched into a bearish mode as Bitcoin and all major altcoins are losing ground. The total market capitalization of all digital assets in circulation increased to $258 billion; average daily trading volumes settled at $58 billion, while Bitcoin's market dominance edged higher to 68.3%.

What’s going on in the market

The Chinese central bank denied the speculations about the state-backed digital coin launch in November. While the regulator confirmed that the coin is in the making, no clear deadlines were provided. 

Read more: China’s central bank governor squashes speculations on the November launch for its digital currency

Top-3 coins  price overview

At the time of writing, BTC/USD is hovering above $9,700 amid bearish sentiments on the cryptocurency market. The first digital coin has lost over 2% of its value in recent 24 hours and stayed mostly unchanged since the beginning of the day.

Ethereum, the second-largest digital asset with the current market capitalization of $21.8 billion has been losing ground recently. The coin has lost nearly 4% in recent 24 hours to trade marginally above $200.00 by press time. ETH/USD has retreated from the intraday high of $202.70. At the time of writing, ETH is moving within a short-term bearish trend amid declining volatility. 

Ripple's XRP settled above $0.2700, having recovered from the intraday low of $0.2637. The third largest coin with the market value of $11.6 billion has lost 1.4% in recent 24 hours and gained 1% since the beginning of the day.


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Shiba Inu eyes positive returns in April as SHIB price inches towards $0.000015

Shiba Inu eyes positive returns in April as SHIB price inches towards $0.000015

Shiba Inu's on-chain metrics reveal robust adoption, as addresses with balances surge to 1.4 million. Shiba Inu's returns stand at a solid 14.4% so far in April, poised to snap a three-month bearish trend from earlier this year. 

AI tokens TAO, FET, AI16Z surge despite NVIDIA excluding crypto-related projects from its Inception program

AI tokens TAO, FET, AI16Z surge despite NVIDIA excluding crypto-related projects from its Inception program

AI tokens, including Bittensor and Artificial Superintelligence Alliance, climbed this week, with ai16z still extending gains at the time of writing on Friday. The uptick in prices of AI tokens reflects a broader bullish sentiment across the cryptocurrency market. 

Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge 

Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge 

Bitcoin price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week. This week’s rally was supported by strong institutional demand, as US spot ETFs recorded a total inflow of $2.68 billion until Thursday.

XRP price could renew 25% breakout bid on surging institutional and retail adoption

XRP price could renew 25% breakout bid on surging institutional and retail adoption

Ripple price consolidates, trading at $2.18 at the time of writing on Friday, following mid-week gains to $2.30. The rejection from this weekly high led to the price of XRP dropping to the previous day’s low at $2.11, followed by a minor reversal.

Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge 

Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge 

Bitcoin (BTC) price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week.

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