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David Ogden
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David Ogden   My Press Releases

Cryptocurrency market update - Bitcoin observes the range, altcoins are a mixed picture

Published on 6/6/2019
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Cryptocurrency market update - Bitcoin observes the range, altcoins are a mixed picture

  • BTC/USD has recovered from the week's lows, but $8,000 remains unconquered.

  • Binance Coin is the winner of the day in Asia on Thursday.

The cryptocurrency market is a mixed picture during Asian hours on Thursday as Bitcoin and top-20 altcoins have entered a consolidation phase. The total capitalization of all digital assets in circulation slipped to at $250 billion from $251 billion about this time on Tuesday. An average daily trading volume dropped to $71 billion.

Top-3 coins price overview

At the time of writing, BTC/USD is hovering marginally above $7,840, mostly unchanged both on a day-on-day basis and since the beginning of Thursday trading. The most important digital asset has recovered from June 4 low of $7,437, though it is still well below a critical $8,000 handle.

Ethereum, the second largest digital asset with the current market capitalization of $26 billion, is changing hands at $246, gaining 1.7% in recent 24 hours.

Ripple's XRP stays marginally above $0.40 at the time of writing after an initial attempt to break below this psychological handle. The third largest coin is locked in a tight range, unchanged both on a day-on-day basis and since the start of Thursday.

The biggest market-movers

Binance Coin (BNB) is the growth leader, with nearly 6% of gains in recent 24 hours. The 7th largest cryptocurrency with the current market capitalization of $4.4 billion is changing hands at $31.5 with a bullish bias.

Bitcoin Cash (BCH) is also doing well. The 4th largest coin has gained nearly 3$ in recent 24 hours to trade at $397 by press time.

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