The cryptocurrency market update: Bitcoin and major altcoins succumb to bearish sentiments

The global cryptocurrency market resumed the decline on Wednesday as failure to settle above critical technical levels discouraged short-term bulls and triggered some profit-taking. The total market capitalization dropped to $259 billion,  an average daily trading volume decreased to at $51 billion, while Bitcoin's market dominance retreated to $69.6%.

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 lost over 2% of its value since this time on Tuesday and stayed mostly unchanged since the beginning of the day. The coin is oversold on short-term time-frames, though the bearish sentiments are still dominant.

Ethereum, the second-largest digital asset with the current market capitalization of $19.3 billion, is changing hands at $179.30. ETH/USD has lost 1.2% in recent 24 hours and stayed unchanged since the beginning of the day. The coin has retreated from the intraday high of $182.44 and settled below critical $180.00.

Ripple's XRP is still locked in a tight range limited by $0.2600 on the upside and $0.2550 on the downside. The third-largest cryptocurrency asset with the market value of $11.1 has been mostly immovable both since the beginning of the day and on a day-on-day basis, though strongly bearish sentiments on short-term timeframe may cause an extended decline and push the pice below the support level. 

Read also: Cryptocurrencies price prediction: Bitcoin, Ripple & Ethereum - Asian Wrap 11 Sept

The biggest altcoin market-movers

Monero (XMR) and Cardano (ADA) are wors-performing asset out of top-20. Both coins have lost over 4% of their respective values. Huobi Token (HTT) has gained 3.% on a day-on-day basis.