The cryptocurrency market update: Bitcoin and major altcoins locked in tight ranges

• Bitcoin is hovering around $10,250, critical $10,000 limits the downside.  
• Bitcoin SV is the best-perfroming altcoin with over 4.5% of gains.  

The global cryptocurrency market is a mixed picture  during early European hours on Tuesday. Bitcoin is range-bound with bearish bias while the majority of altcoins are directionless, influenced by speculative and technical factors. The total market capitalization dropped to $264 billion,  an average daily trading volume sits at $56 billion, while Bitcoin’s market dominance retreated to $69.7%.  

Top-3 coins    price overview  

At the time of writing, BTC/USD is changing hands at $10,260, off the intraday high registered on approach to $10,400. The price of the first digital asset has been range-bound with bearish bias since the end of the previous week with $10,000 now back in focus.    

Ethereum, the second-largest digital asset with the current market capitalization of $19.5 billion, is changing hands at $181.30. ETH/USD has gained 1.2% in recent 24 hours and stayed unchanged since the beginning of the day. The coin has retreated from the intraday high of $184.50.  

Ripple’s XRP is going nowhere. The third-largest cryptocurrency asset with the market value of $11.2 billion is sitting marginally below $0.2600, immovable both since the beginning of the day and on a day-on-day basis. The strong trendline support is created on approach to $0.2550, the resistance awaits the bulls at $0.2600.  

Read also:  Bitmain stays ahead of competition with the launch of 2 new ASIC-based Bitcoin miners

The biggest altcoin market-movers  

Bitcoin SV (BSV) is the biggest loser of the day. The 9th largest altcoin is down 4.5% on a day-on-day basis. Cardano (ADA) turns out to be the best-performing asset out of top-20. The coin has gained 3.5% on a day-on-day basis to trade at    $0.0477.