• Bitcoin (BTC) has settled close to $8,000 on Wednesday.
  • Altcoins retain bearish bias during early Asian hours.

The cryptocurrency market is range-bound with bearish bias after a sharp sell-off at the beginning of the week. Bitcoin and all major altcoins are nursing lose from 1$ to 4% on a day-to-day basis with NEO being a notable exception. The coin has gained over 5% since this time on Tuesday.

The total cryptocurrency market capitalization stayed at to $223, mostly unchanged from this time on Tuesday; an average daily trading volume is registered at $77 billion. Bitcoin's market share settled at 66.1%.

Top-3 coins price overview 

BTC/USD tested area below $8,000 on Tuesday. While thee price managed to recover to $8,150 by press time, the market is still controlled by bears. The first digital asset has lost about 1% of its value in recent 24 hours and stayed unchanged since the beginning of the day. Looking technically, the  $8,060-$8,000 area creates a strong initial support that may limit the further downside in the short run.

BTC/USD, 1-hour chart

Ethereum, the second-largest digital asset with the current market capitalization of $19.2 billion, has settled above $175.00 after a short-lived sell-off to $172.75 on Tuesday. ETH/USD has over 1% on a day-to-day basis and stayed unchanged since the beginning of Wednesday. At the time of writing, ETH/USD is changing hands at $175.75, while the initial support is created by the middle line of 1-hour Bollinger Band.

ETH/USD, 1-hour chart

Ripple’s XRP touched $0.2408 on Monday amid global sell-off on the cryptocurrency market, but managed to recover to the area above $0.2500 by the time of writing. XRP/USD, the third digital coin with the current market value of $11.0, has gained 1% of its value since this time on Tuesday. The support is created by psychological $0.2500. At the time of writing, XRP/USD is changing hands at at $0.2515 

XRP/USD, 1-hour chart


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, Ripple and Ethereum begin consolidating

After finishing the month of July in incredible style, cryptocurrencies across the market have taken step back led by Bitcoin, Ethereum and Ripple. Bitcoin, for instance, is settling for consolidation between the support at $11,500 and $12,000.

More Bitcoin News

XRP/USD daily bull flag awaiting confirmation to breakout above $0.346

XRP/USD is trading at $0.309 while daily EMAs remain far away from the price. The daily bull flag is the most important pattern for XRP in the short-term. XRP continues fighting to remain above $0.30 ...

More Ripple News

Grayscale wants to register its Ethereum-based trust with SEC

Grayscale Investments submitted an application with the US Securities and Exchange Commission to register its Ethereum-based Trust. The company emphasized that the filing is voluntary, however, the registration will entail additional compliance requirements.

More Ethereum News

How long can TRX/USD sustain this 6-months ascending channel?

Tron price action has continued to take down key barriers from the massive losses in March. Even though the recovery has been as rapid as witnessed in other altcoins, TRX/USD price action speaks slow and steady out loud.

More Tron News


Bitcoin Weekly Forecast: Fasten your seatbelts, next stop is $12,000

Bitcoin has had its best week since mid-2019. The first digital currency gained over 18% in a single week and hit the new highest level of 2020. At the time of writing, BTC/USD is changing hands at $11,358 and the upside momentum is gaining traction as Bitcoin bulls are pushing at the upper line of the weekly Bollinger Band. 

Read the weekly forecast