The cryptocurrency market update: Bitcoin and major altcoins range-bound with bearish bias
- Bitcoin is hovering around $10,100, critical $10,000 limits the downside.
- Bitcoin SV is the best-performing altcoin with over 3% of gains.
The cryptocurrency market is a mixed picture during early Asian hours; however, the bearish sentiments seem to be predominant as Bitcoin and the majority of top altcoins are in red. The selling pressure resumed on August 26 after a short-lived recovery attempt. Lack of follow-through pushed the prices back towards the lower borders of the recent consolidation channels.
The total market capitalization has settled at $263.6 billion; an average daily trading volume is registered at $47 billion. Bitcoin's market dominance stays at $68.8%.
Top-3 coins price overview
BTC/USD is hovering around $10,100 handle. The first digital asset has lost about 1.5% on a day-on-day basis and stayed unchanged since the beginning of the day. While critical support of $10,000 remains unbroken, the upside momentum is limited, which means that the coin is vulnerable to further losses.
Ethereum, the second-largest digital asset with the current market capitalization of $20 billion, has settled at $185.30. The coin has lost about 1% of its value both since the beginning of the day and on a day-on-day basis. ETH/USD is moving within a short-term bearish trend in sync with the market.
Ripple's XRP is changing hands at $0.2677 at the time of writing. XRP/USD has stayed unchanged both on a day-on-day basis and since the beginning of the day, locked in a tight range amid decreasing volatility.
The biggest altcoin market-movers
Bitcoin SV (BSV) is the biggest winner of the day from top-20 coins. BSV/USD has gained over 3% in recent 24 hours to trade at $133.16. Tezos ( ZTX) is the weakest coin altcoin out of top-20. The 17th largest digital asset bu market value has lost 3% of its value to trade at $1.13 at the time of writing.
Author
Tanya Abrosimova
Independent Analyst
