Cryptocurrency market update: Bitcoin (BTC) and major altcoins range-bound with bearish bias

By | August 6, 2019

  • Bitcoin and major altcoins have settled in tight ranges after strong movements on Monday.
  • A new catalyst is needed to push the coins towards new highs.

The cryptocurrency market is a mixed picture during early Asian hours on Tuesday. Bitcoin and all major altcoins are pretty directionless, as they are moving in within tight ranges with bearish bias amid low trading activity.

The total capitalization of all digital assets in circulation reached $306 billion. An average daily trading volume is registered at $66 billion, while Bitcoin’s market share climbed to 67.9%.

Top-4 coins price overview

Bitcoin’s recovery has stalled on approach to $11,900 barrier. The first digital coin is hibernating in a tight range on Tuesday, gaining 1.5% on a day-on-day basis and losing 1.2% since the beginning of the day. At the time of writing, BTC/USD is changing hands at $11,690.

Ethereum, the second-largest digital asset with the current market capitalization of $24.5 billion, stays unchanged on a day-on-day basis and down nearly 2% since the beginning of Tuesday. ETH/USD retreated from an intraday high above 4233 and settled at $228.70.

Ripple’s XRP returned to the previous range limited bu $0.31 on the downside and $0.3200 on the upside as the bullish momentum proved to be unsustainable. The coin failed to settle above $0.32 during early Asian hours and retreated towards $0.3180 by the time of writing.

Litecoin has barely changed in recent 24 hours. The coin now takes fifth place in the global cryptocurrency market rating with the current value of $6.0 billion. LTC/USD is changing hands at $95.60, off the intraday high registered at $96.55.

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