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.

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 Price Forecast: BTC whales plotting a bullish attack

Bitcoin (BTC) is changing hands at $10,750, mostly unchanged since the start of the day. The cryptocurrency attempted a recovery to $11,000 on Monday but was thrown back inside the range by aggressive short-term sellers.

More Bitcoin News

Top 3 Gainers: OMG, SXP, and STORJ explode 70% and are eying up more gains

The entire cryptocurrency market is bouncing back up, strongly gaining more than $28 billion in market capitalization over the past week. Some of the biggest gainers include OMG, SXP, and STORJ. 

More Cryptocurrencies News

LINK goes through consolidation, preps for a breakout

LINK broke above the downward trending line this Thursday and is currently trending horizontally between the $10 support line and the SMA 20 curve.

More ChainLink news

Bitcoin's mass adoption passes the point of no return

Bitcoin was created in response to the Financial crisis of 2008 and developed within a narrow circle of computer geeks, coders, and libertarians fixated on personal freedom, anonymity, and independence from all sorts of authorities. 

More Bitcoin News


Bitcoin Weekly Forecast: Keep calm and HODL on until the USA elects the president

Bitcoin (BTC) partially regained the losses incurred at the beginning of the week; however, the upside momentum is still too weak to take the price out of the bearish territory and ensure a sustainable recovery. 

Read the weekly forecast