Bitcoin Briefly Breaks $8,000 as US Stock Market Sees Slight losses
Most of the top 20 cryptocurrencies are reporting moderate gains on the day as bitcoin approaches $8,000.
Market visualization courtesy of Coin360
Bitcoin 7-day price chart. Source: Coin360
Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at just under $26.4 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $16.6 billion at press time.
Coin360 data shows that ETH has seen its value increase by about 3.15% over the last 24 hours. At press time, ETH is trading around $248. On the week, the coin has also gained over 2.8% of value.
Ether 7-day price chart. Source: Coin360
XRP is up by just over 1.8% over the last 24 hours and is currently trading at around $0.396. On the week, the coin is down about 0.25%.
XRP 7-day price chart. Source: Coin360
At press time, the total market capitalization of all cryptocurrencies is $256.8 billion, nearly 3% lower than the value it reported a week ago.
In traditional markets, the United States stock market is seeing slight losses so far today, with the S&P 500 down 0.01% and the Nasdaq down 0.2% at press time. The CBOE Volatility Index (VIX), on the other hand, has gained 0.75% on the day at press time.
Major oil futures and indexes are seeing mixed movements today, with WTI Crude down 2.08%, Brent Crude down 1.73% and Mars US up 0.02% at press time. The OPEC Basket is up 3.5% and the Canadian Crude Index has seen its value decrease by 3.03% in the 24 hours by press time, according to OilPrice.