Bitcoin (BTC) sliding down, altcoins follow the lead

Fibo Quantum

  • Bitcoin and major altcoins have resumed the decline.
  • Critical support levels remain unbroken so far.

The cryptocurrency market continues its rueful trip to the South. Bitcoin (BTC) and all significant altcoins are deep in red, nursing losses from 1% to 8% with the notable exception of Chainlink (LINK). UNUS SED LEO (LEO) and EOS. These three coins managed to stay in a green zone so far. 

The total capitalization of all digital assets in circulation dropped to $266 billion from $275 billion this time on Tuesday. The total trading volume is registered at $59 billion, while Bitcoin’s market share has settled at 65.0%.

Top-4 coins price overview

Bitcoin (BTC/USD) touched the intraday low at $9,573 and recovered to $9,700 by the time of writing. The market is still dominated by bearish sentiments, while BTC/USD is vulnerable to further losses with the next focus on $9,300. BTC/USD is down 4% on a day-on-day basis. 

Ethereum, the second-largest digital asset with the current market capitalization of $22.0 billion, is down 4% on a day-on-day basis and down 3% since the start of the Asian session on Monday. ETH/USD tested $200.00 support during early Asian hours. At the time of writing, it is changing hands at $206.00. 

Ripple’s XRP stays above critical $0.3000, though it is down both on a day-on-day basis and since the beginning of Wednesday. Ripple’s current market capitalization is registered at $13.1 billion, while an average daily trading volume comes at $1 billion.

Litecoin (LTC/USD) dropped below critical $90.00 amid intense bearish pressure. The fourth-largest coin with the current market capitalization of $5.6 billion has lost 3.5% of its value to trade at $89.50 by the time of writing.