Tanya Abrosimova
Independent Analyst
- Bitcoin is hovering below $10,200 with a short-term bearish bias
- Altcoins are moving without a clear direction.
Bitcoin and all major altcoins have been a mixed picture during European hours on Tuesday. The total market capitalization stays edged towards to $265 billion, average daily trading increased to $57 billion, while Bitcoin's market dominance retreated to 69.1%.
What’s going on in the market
A bug experienced by the US-based crypto exchange Kraken during production tests allowed users to buy Bitcoin at $8,000 and sell at $12,000. The bug did not affect liquidity and other market conditions.
Bitcoin volatility hit the lowest level since May. This lull in the market forced traders to practice the wait-and-see approach and refrain from active trading as long as the market is directionless.
Top-3 coins price overview
At the time of writing, BTC/USD is changing hands at $10,150, down 1% on a day-on-day basis and since the beginning of the day. The has been trading below $10.300 since the end of Monday.
Ethereum, the second-largest digital asset with the current market capitalization of $21.4 billion has gained over 2.5% in recent 24 hours to trade at $199.47. ETH/USD grew strongly during early Asian hours, however, the further upside may be limited by a critical $200.00.
Ripple's XRP experienced a strong but short-lived growth. The third-largest cryptocurrency asset with the market value of $11.4 billion came close ti=o critical $0.2700; however the price quiclkly retreated to $0.2660 amid technical correction.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Dogwifhat price pumps 5% ahead of possible Coinbase effect
Dogwifhat (WIF) price recorded an uptick on Thursday, going as far as to outperform its peers in the meme coins space. Second only to Bonk Inu (BONK), WIF token’s show of strength was not just influenced by Bitcoin (BTC) price reclaiming above $63,000.
Runes likely to have massive support after BRC-20 and Ordinals frenzy
PUPS, WZRD, and PEPE are gaining liquidity through Bitcoin Ordinals. Creator of Bitcoin’s Ordinals protocol is debuting a new fungible token standard to rival BRC-20, Runes.
Ethereum shows firm support at key level as its correlation with US indices increase
Ethereum's price continued a sideways movement on Thursday as the market still awaits a trigger. Ethereum isn't alone in this horizontal trend; several major index funds have also traded sideways.
Mango Market attacker convicted of fraud and market manipulation
Mango Market attacker Avi Eisenberg was convicted by a federal jury on Thursday for "fraudulently obtaining" funds from the Solana-based decentralized exchange (DEX). He could face up to 20 years in prison for his role in the $110 million attack.
Bitcoin: BTC’s rangebound movement leaves traders confused
Bitcoin (BTC) price has been hovering around the $70,000 psychological level for a few weeks, resulting in a rangebound movement. This development could lead to a massive liquidation on either side before a directional move is established.