Bitcoin Falls Under $8,000 Again as US Stock Market Sees Discrete Gains
Most of the top 20 cryptocurrencies are reporting moderate gains on the day as bitcoin has fallen below the $8,000 mark again.
Market visualization courtesy of Coin360
Bitcoin 7-day price chart. Source: CoinMarketCap
Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $24.5 billion. The second-largest altcoin, XRP, has a market cap of $17.9 billion at press time.
CoinMarketCap data shows that ETH is up over 11% over the last 24 hours. At press time, ETH is trading around $231. On the week, the coin has also seen its value increase by over 26.8%.
Ether 7-day price chart. Source: CoinMarketCap
XRP is up over 5.6% over the last 24 hours and is currently trading at around $0.427. On the week, the coin is up over 29%.
XRP 7-day price chart. Source: CoinMarketCap
Among the top 20 cryptocurrencies, the ones reporting the most notable gains are tezos (XTZ), which is up nearly 22%, binance coin (BNB), which is up over 14.5%, tron (TRX) and ethereum classic (ETC), both up over 12%.
At press time, the total market capitalization of all cryptocurrencies is $244.3 billion, nearly 24% higher than the value it reported a week ago.
Total market capitalization 24-hour chart. Source: CoinMarketCap
In traditional markets, the United States stock market is seeing discrete gains so far today, with the S&P 500 up 0.55% and the Nasdaq up 0.98% at press time. The CBOE Volatility Index (VIX), on the other hand, has lost a solid 6.26% on the day at press time.
Major oil futures and indexes are seeing mixed movements today, with WTI Crude up 0.19%, Brent Crude up 0.73% and Mars US up 1.56% at press time. The OPEC Basket is down 0.77% and the Canadian Crude Index has gained 0.51% by press time, according to OilPrices.