The cryptocurrency market update: Bitcoin and major altcoins locked in ranges amid low trading activity


  • Bitcoin has settled above $10,600, further upside is limited.
  • Ethereum Classic is the best-performing altcoin with nearly 5% of gains.

There are some green shoots on the cryptocurrency market in Asia; however, Bitcoin and all major altcoins are still locked in tight ranges. The total market capitalization stayed at $268 billion, unchanged from this time on Wednesday,  while an average daily trading volume retreated to $50 billion; Bitcoin's market dominance edged higher towards $70.8%.

Top-3 coins  price overview

At the time of writing, BTC/USD is changing hands at $10,610, mostly unchanged both on a day-on-day basis and since the beginning of Thursday. The first digital asset has settled above $10,600, however, the further upside seems to be limited due to low trading activity. 

Ethereum, the second-largest digital asset with the current market capitalization of $18.9 billion, is changing hands at $175.87. The coin has lost nearly 2% of its value in recent 24 hours and touched $173.83 low during early Asian hours. Ethereum has retreated from the recent high at $183.00 and has been sliding down ever since.

Ripple's XRP slipped back below $0.2600 barrier amid range-bound trading with a bearish bias. We will need to see a sustainable move above this handle to mitigate an initial pressure and proceed with the recovery.

Read also: Ethereum Classic price analysis: ETC/USD spikes by 3.34% in 15 mins

The biggest altcoin market-movers

Ethereum Classic (ETC) is the best-performing altcoin out of top-20 with nearly 5% of gains. ETC/USD is changing hands at $7.13 amid strong bullish trend. Ethereum Classic is now the 16th largest coin with the current market value of $807 million.

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