- Bitcoin has resumed the downside movement, $8,000 still intact.
- Altcoins are in a red zone, losing ground during Saturday trading.
The cryptocurrency market has been range-bound mostly with bearish bias during Saturday trading. Bitcoin and major altcoins are nursing slams losses, while moving within the recent ranges. The market capitalization of all digital assets in circulation dropped to $216 billion from $217 billion on Friday, while an average daily trading volume edged down to $42 billion from $48 billion the day before. Bitcoin’s market share dropped to 67.2%.
Top-3 coins price overview
BTC/USD has lost 1.3% on a day-on-day basis and stopped within a whisker of critical $8,000. The first digital coin is changing hands at $8,083 with short-term bearish bias. if $8,000 gives way, the sell-off is likely to gain traction with the next target at the week’s low on approach to $7,700.
Ethereum, the second-largest digital asset with the current market capitalization of $18.8 billion, has lost nearly 1% both in recent 24 hours and since the beginning of the day, to trade at $174.20 at the time of writing. ETH/USD is vulnerable to further losses once the coin moves below the critical short-term support of $170.00.
Ripple’s XRP is has stayed mostly unchanged both on a day-on-day basis and since the beginning of Saturday. XRP/USD regained some ground and settled above $0.2500; however, the further upside seems to be limited so far. The third largest digital asset with the current market value of $10.8 billion has been a slow mover recently, despite a slew of positive fundamental news.
Read also: Coinbase’s new trading fee structure hits retail traders
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