Bitcoin Falls Under $3,600 as Top Cryptocurrencies Report Moderate Losses
All the top 20 cryptocurrencies are seeing slight to moderate losses, with Bitcoin falling under $3,600 again.
Market visualization from Coin360
At press time, Bitcoin is down over 2 percent on the day, trading at around $3,568. Looking at its weekly chart, the current price is lower than the intra-week high of $4,109 — registered on Jan. 8 — and is also lower than $3,869, which is the value of one bitcoin last Sunday.
Bitcoin 7-day price chart. Source: CoinMarketCap
Ripple (XRP) is down nearly 2 percent on the day, trading at around $0.323 at press time. On the weekly chart, the current price is lower than $0.357, the price at which XRP started the week — and notably lower than $0.380, the midweek high reported on Jan. 2.
Ripple 7-day price chart. Source: CoinMarketCap
Ethereum (ETH) has seen its value decrease by over 6 percent over the last 24 hours. At press time, ETH is trading at around $118, having started the day around $127. On the weekly chart, Ethereum’s current value is significantly lower than $153, the price at which the coin started the week.
Ethereum 7-day chart. Source: CoinMarketCap
The combined market capitalization of all cryptocurrencies — currently equivalent to about $119.6 billion — is lower than $132.3 billion, the value it reported one week ago. The current value is also notably lower than the intra-week high of $138.7 billion reported on Jan. 6.
Total crypto market cap 7-day chart. Source: CoinMarketCap
Also this week, an analyst recently declared the number of active Bitcoin wallets, many of which have long been dormant, has seen an uptick that could herald major market movements.