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  • Bitcoin is hovering below $8,000 amid growing bearish sentiments.
  • Altcoins are headed to the South, dragged down by Bitcoin’s downside momentum.

The cryptocurrency market resumed the sell-off after a tepid recovery attempt on Thursday. Bitcoin and all major altcoins are exploring new lows during early Asian hours amid growing bearish sentiments. The market capitalization pf all digital assets in circulation shed another $10 billion to $212 billion, while an average daily trading volume increased to $65 billion. Bitcoin’s market share decreased to 68.0%.

Top-3 coins  price overview

BTC/USD dropped below $8,000 to trade at $7,980 at the time of writing. The first digital coin has lost nearly 5% of its value on a day-on-day basis and decreased by 1% since the beginning of the day. The bearish pressure may increase on a breakthrough below critical $8,000 with the next target on Thursday’s low of $7,728.

Ethereum, the second-largest digital asset with the current market capitalization of $17.7 billion is also losing ground rapidly. The coin has lost nearly 3% in recent 24 hours to trade below $165.00 at the time of writing. ETH/USD tested area below $164.00 handle during early Asian hours.  

Ripple’s XRP has lost nearly 2% since this time on Thursday. The third largest digital asset with the current markett value of $10.3 billion retreated from $0.2500 handle to trade at $0.2380 at the time of writing. Currently  XRP/USD is moving with bearish bias in sync with the rest of the market.