Crypto Market Turned Red, Bitcoin Below USD 10,000 Again
In a sudden move in early hours of Thursday (UTC time), the crypto market dropped trimming its recent gains. The most popular cryptocurrency, bitcoin, slipped c. 3% in 20 minutes and once again lost the USD 10,000 support.
At pixel time (03:40 UTC), bitcoin trades at c. USD 9,857 and is down by almost 4% in the past 24 hours and by 3% in the past week.
Bitcoin price chart:
Other coins from the top 10 by market capitalization, lost 2%-5% of their value in the past 24 hours, except Stellar (XLM), which is still up by 12.5%. However, XLM also dropped by 4.5% in the past hour. In either case, all top 10 coins are still up in the past week, except bitcoin.
Almost all tokens from the top 100 dropped in the past hour.
The total market capitalization is down by 3%, to USD 266 billion, while the bitcoin dominance, or the percentage of the total market capitalization, remains almost unchanged and stands at c. 66.7%.
Yesterday, around ten coins in the top 100 reached the double-digit rise, while many more entered the double-digit-percentage space in the last seven days.
"It's quite clear that some altcoins have been performing very well over the last week or two, whereas bitcoin has been quite stable. It's still a bit early to say definitively whether this is the start of a new trend or if it's just some sort of interlude," Senior Market Analyst at eToro, Mati Greenspan, told Cryptonews.com yesterday.