The cryptocurrency market update: Bitcoin and major altcoins lack momentum; TRX losing ground

  • Bitcoin is glued to critical $10,000 amid market indecision.
  • Bitcoin SV and TRON are is the worst-performing altcoin with over 5% of losses.

The global cryptocurrency market remains range-bound on Thursday as traders cannot decide where from here. Bitcoin and most of the major altcoins are hibernating after a sell-off in the beginning of the week. The total market capitalization stays unchanged to $259 billion,  an average daily trading volume edged up to $52 billion, while Bitcoin's market dominance increased to $70.0%.

Top-3 coins  price overview

At the time of writing, BTC/USD is changing hands marginally above critical $10,000. The first digital asset has stayed unchanged since this time on Wednesday and since the beginning of the day. The coin is moving within a bearish trend on the short-term time-frames amid shrinking volatility.

Ethereum, the second-largest digital asset with the current market capitalization of $19.2 billion, is changing hands at $177.80. ETH/USD has been sliding down recently, though on Thursday morning it has stayed mostly unchanged. The coin attempted a recovery above $179.00 but failed to hold the ground. 

Ripple's XRP is moving within a short-term bearish trend amid expanding volatility. The third-largest cryptocurrency asset with the market value of $10.9 moved below $0.2550 support to trade at $0.2520 by the time of writing. XRP/USD has lost 1.2% both in recent 24 hours and since the beginning of Thursday.

Read also: 40% of millennials to invest in cryptocurrencies to hedge against a recession - Survey

The biggest altcoin market-movers

Bitcoin SV (BSV) and TRON (TRX) are the biggest losers of the day out of top-20 assets. Both coins have lost over 5% of their respective values. 

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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin price analysis: BTC/USD bounces back, will the bulls hit $10,500?

Bitcoin is trading between the Simple Moving Averages support and resistance. The 100 SMA on the four-hour chart is offering support at $10,149 while on the upside the 50 SMA will limit movement at $10,364.

More Bitcoin News

Ripple has no incentive to dump XRP price - Ripple’s CEO Brad Garlinghouse

Speaking in the interview with CNN, Garlinghouse confessed that Ripple was the largest owner of XRP tokens, and thus the most interested party in the success of the project. Meanwhile, selling XRP onto the market does not qualify as the best success strategy.

More Ripple News

The cryptocurrency market update: Bitcoin consolidates gains, altcoins go nowhere

The cryptocurrency market situation has barely changed in recent 24 hours. Bitcoin and the majority of altcoins out of top-20 managed to recover during late Thursday hours; however, no major breakthroughs happened.

More Cryptocurrencies News

IOTA price analysis: MIOTA/USD bullish after symmetrical triangle breakout

IOTA has defied the broad-based bear pressure to post a subtle 1.3% increase in value on the day. Prior to the impressive correction on Monday, IOTA was consolidating above the short-term support at $0.2350. The initial recovery from the recent low at $0.2268 failed to break the resistance $0.25.

More IOTA News


Bitcoin Weekly Forecast: Rangebound trading and September blues come upon the crypto market

Bitcoin finishes the week with marginal losses. The first digital currency recovered from the recent low of $9,886 but stayed in the red zone as of the end of the week.

Read the weekly forecast