The cryptocurrency market update: Bitcoin and major altcoins vulnerable to new losses

• Bitcoin resumed the downside during Asian hours.
• Huobi token is the worst-performing altcoin with over 8% of losses. 

The cryptocurrency market is range-bound mostly with a bearish bias as Bitcoin and all major altcoins are consolidating losses incurred during the previous days. The total market capitalization decreased to $245 billion from $249 billion this time on Thursday; an average daily trading volume increased to $55 billion, while Bitcoin’s market dominance stayed marginally above $69.0%. 

Top-3 coins  price overview 

BTC/USD is hovering below $9,500, having recovered from the intraday low of $9,344. The first digital asset has lost about 1.75% on a day-on-day basis and stayed unchanged since the beginning of the day. The coin is consolidating losses amid decreasing volatility. 

Ethereum, the second-largest digital asset with the current market capitalization of $18 billion, follows Bitcoin’s lead. ETH/USD is changing hands at $168.30, unchanged since the beginning of the day and down 1.5% in recent 24 hours.  

Ripple’s XRP is range-bound during early Asian hours. The third-largest coin is changing hands at $0.2545,  mostly unchanged both on a day-on-day basis and since the beginning of Friday. XRP/USD is supported by $0.2500 handle; however, the recovery momentum is weak. 

The biggest altcoin market-movers 

Huobi token is the biggest loser of the day. The coin is down 8% from this time on Thursday. Monero and Ethereum Classic are also outsiders. Both coins are down more than 6%.