Crypto market overview: Bitcoin, Ethereum, and Ripple succumb to bearish pressure as traders see the glass half empty

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  • Cryptocurrency market resumed the sell-off late on Tuesday.
  • All major coins are in red on daily basis.

Cryptocurrency market shed another $15B late on Tuesday as the sell-off resumed after a short period of consolidation.  NEO and IOTA appeared to be worst performers with EOS and Tron not far behind. Fundamentally, there were both positive and negative events, but investors chose to treat the glass as half empty.

Bitcoin lived through another bearish day, trading below $6,500 handle for the first time since the end of March. At the time of writing the digital coin No. 1 is at $6,562, down nearly 5% in the last 24 hours. Trading volume settled at $4.5B with BTC/JPY representing a 57.7% share.

Ethereum price explored the area below $500, losing 5.8% over the recent 24 hours. Currently, ETH/USD is trading at $500 handle, having recovered from Tuesday’s low registered at $483.  Nearly $1.9B worth of Ether changed hands in the past 24 hours with ETH/BTC representing 33.6% share of total daily trading volume. 

Ripple has lost 5.7% since this time yesterday, trading at $0.5576 at the time of writing. XRP/BTC and XRP/USDT are among the most active combinations, representing over 50% of the total trading volume.

Ethereum Classic was a star performer early on Tuesday, supported by the news that Coinbase decided to add it to the list of tradable instruments. The coin spiked as much as 25% but failed to keep ground. ETC is down 5% on daily basis, trading at $14.6 at the time of writing.

ETC/USD, the daily chart

 

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