- The cryptocurrency market shows resilience in the first devastating selloff in June.
- Bitcoin extends declines below $8,000 key support to trade lows of $7,717.88.
- Ethereum and Ripple navigate the sea of red: Recovery is still hampered.
The cryptocurrency market is not painting a very impressive picture for investors on Tuesday. Starting from the ‘King’ of them all, Bitcoin the market is painted in red. Besides, the data on CoinMarketCap shows that $20 billion has been wiped off the market in under 12 hours. The market closed the trading on Tuesday at $271 billion but the selloff has seen a broad-based loss with losses hitting $251 billion.
Bitcoin price update,
The largest digital asset is exchanging hands at $7,887 after breaking below the key support we discussed yesterday at $8,000. The intraday charts show Bitcoin having lost $2.67% of its value on the day after hitting lows of $7,717.88 billion on the day. Bitcoin has a market cap of $140 billion representing 55.8% dominance on the market. Its 24-hour exchange traded volume is $22 billion.
Ethereum price update
The largest altcoin has not been spared in the recent selloff. From a high of $249.54 on the day ETH/USD has traded lows of $237.04. It has since recovered to the current value at $245 but it is trending 1.68% lower on the day. The prevailing is still bearish. Ethereum has a market cap of $26 billion and a 24-hour trading volume of $9.7 billion.
Ripple price update
Ripple is also adding sorrow to an already somber mood across the crypto market. The digital asset has hit highs of $0.4176 on the day but also touch lows around $0.3949. A slight recovery has occurred with the asset rising to the current $0.4112, although it is still trending 1.38% lower on Tuesday. In the last 24-hours XRP has lost 6.23% of its value. The token has a market cap of $17 billion and a 24-hour trading volume of $2.4 billion.
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