Bitcoin stays calm while alcoins are deep in red

  • Bitcoin is glued to $10,600, range-bound amid altcoins sell-off.
  • Monero (XMR) is the best-performing altcoin with over 3% of gains.

The global cryptocurrency market resumed the decline during European hours on Thursday. While Bitcoin (BTC) stays unchanged, an overwhelming majority of altcoins are nursing losses ranging from 1% to 4%. The total market capitalization decreased to $266 billion,  while Bitcoin’s market dominance increased to $71.0%.

Top-3 coins  price overview

At the time of writing, BTC/USD is hovering around $10,600, mostly unchanged both on a day-on-day basis and since the beginning of Thursday. The price of first digital asset has been range-bound recently even as altcoins are losing ground.

Ethereum, the second-largest digital asset with the current market capitalization of $18.5 billion, is changing hands at $171.70. The coin has lost nearly 2% of its value since the beginning of the day and nearly 4% in recent 24 hours. Ethereum has recovered from the intraday low of 169.63.

Ripple’s XRP retreated to the middle of the previous range limited by $0.2600 on the upside and $0.2500 on the downside. The coin has lost about 1% of its value both on a day-on-day basis and since the beginning of the day. We will need to see a sustainable move above $0.2630 to mitigate an initial pressure and proceed with the recovery.

Read also: Bitcoin Is Using Less Energy Despite Record Hash Rate, New Data Shows

The biggest altcoin market-movers

Monero (XMR) is the best-performing altcoin out of top-20 with nearly 4% of gains. XMR/USD is changing hands at $75.88 off the intraday high registered at $76.26. Monero is the 10th largest coin with the current market value of $1.3 billion.

Read also: Monero price analysis: XMR/USD slips below $76.00, retains bullish bias

Be the first to comment

Leave a Reply