Market Overview

Bitcoin holiday sale-off

Markets have taken a renewed plunge, with virtually all of the top 100 cryptocurrencies in the red and many high market cap alts seeing losses of between 5 and 12 percent, as data from Coin360 shows. Fourth-largest cryptocurrency Bitcoin Cash (BCH) has led the downturn, seeing a steep 12.15 percent loss on the day to trade at $126. Today marks a low-point on the alt’s 7-day chart, at the start of which it was trading over $220.

Bitcoin (BTC) has seen a more moderate loss of around 4 percent on the day, and is trading at $3,605 to press time. Having hit intra-week levels as high as around $4,230 on Dec. 23, the top coin’s renewed downturn have all but reversed recent gains and Bitcoin is back trading close to its value mid-December. Bitcoin’s losses remain a mild 2.4 percent on the week and 3.6 percent on the month.

Second-largest crypto by market cap Ripple (XRP) is down over 5 percent on the day, according to Cointelegraph’s Ripple Price Index. Notwithstanding an intraweek spike to $0.45 on Dec. 23, Ripple has mostly been trading range bound between $0.35 – $0.39. The alt has today come close to the price point it held on Dec. 21 — weekly losses are at a mild 1 percent; on the month, the Ripple is down over 4 percent. Ethereum (ETH), ranked third by market cap, is down over 7 percent and trading at $115 at press time. Following intra-week highs of over $150, the alt has virtually come full circle on the week, reversing recent growth.

Markets Take Renewed Downturn, Cryptos Hit By Strong Losses Across The Board, CoinTelegraph, Dec 28
Article Rating
Rate this post