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  • All top-10 coins are rangebound during early Asian hours on Monday.
  • Tron demonstrates spectacular 10% growth on a day-on-day basis.
  • Futures market positioning shows the decrease in the number of traded contracts.

Cryptocurrency market maintains a consolidative pattern: all major coins respect their ranges amid low trading volumes and non-existant volatility. The total capitalization of the market has settled at $218.8B.

BTC/USD is sitting above a critical $6,500 handle. The largest digital coin jumped to $6,589 late on Sunday but quickly retraced to $6,558 by press time. Selling interest located on the approach to $6,600 resistance won’t let BTC/USD higher.  

Ethereum has settled above $220 handle, though the upside momentum is nowhere to be seen. ETH/USD is changing hands at $225 at the time of writing, unchanged on a day-on-day basis.

Ripple’s XRP is trading at $0.4866, off the Asian high registered at $0.4932. The coin has gained nearly 1.3% of its value on a day-on-day but shed 17% of its value in recent seven days.

Tron (TRX), 11th largest cryptocurrency is the growth leader of the day. The coin has gained over 10% in the recent 24 hours to trade at $0.267 by press time

Market positioning

Speculators increased their bearish bets in Bitcoin futures market, the latest Commitment of Traders (COT) data shows. According to the report, published by the Commodity Futures Trading Commission (CFTC) on Friday, the total number of Bitcoin futures contracts amounted to 1,297 contracts in the week through October 2, which is 124 contracts lower as compared to the previous week. Low market activity discouraged traders who preferred to stay on the sidelines until the situation clears out.