The cryptocurrency market update: Bitcoin and major altcoins drift lower; Tezos jumps by 30%

Bitcoin (BTC) dropped back below $9,300 amid slow trading activity.
Altcoins are mostly range-bound with bearish bias during early Asian hours.

Tanya Abrosimova Independent Analyst

Bitcoin and all major altcoins are nursing marginal losses during early Asian hours on Thursday. Tezos is a notable exception is Tezos (XTZ) that gained over 30% in the recent 24 hours amid the news about Coinbase listing. The total cryptocurrency market capitalization has not changed since this time on Wednesday. It is registered at $251 billion; an average daily trading volume decreased from $89 billion to $79 billion, while bitcoin's market share stayed at 66.8%.

Top-3 coins price overview

BTC/USD hit the intraday high at $9,373 during early Asian hours and retreated to $9,265 by the time of writing. The first digital coin has stayed mostly unchanged both on a day-to-day basis and since the beginning of Thursday. Bitcoin movements are limited by a tight range where SMA100 (Simple Moving Average) daily serves as a strong resistance barrier (currently at $9,583).

Ethereum, the second-largest digital asset with the current market capitalization of $20.5 billion, has retreated from the recent high of $194.80. Unchanged on a day-to-day basis, ETH/USD has lost about 1.5% since the beginning of the day to trade at $188,20 by the time of writing. Looking technically, ETH/USD stays above SMA100 daily, which is a positive signal in the short run.

Ripple’s XRP failed to settle above $0.3000 once again. The third digital coin with the current market value of $13 billion has barely changed in recent 24 hours and lost over 4% on its value since the beginning of Thursday. At the time of writing, XRP/USD is trading at $0.2969.

Author

Tanya Abrosimova

Independent Analyst

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