Bitcoin Reclaims $8K as Coins See Green, Experts Warn of Ominous Stock Market Volatility
The crypto markets are today back firmly in the green, with bitcoin (BTC) breaking back above the $8,000 mark.
Market visualization courtesy of Coin360
Having bullishly surged above the psychological price point of $9,000 in May, bitcoin has since seen significant corrections — briefly trading below $7.600 on June 6. To press time, the top coin is seeing solid green, breaking back above $8,000 to trade at $7,003 — up roughly 1.8% own on the day, according to CoinMarketCap data.
On the week, the cryptocurrency’s losses remain at 3.9%.
Bitcoin 24-hour price chart. Source: CoinMarketCap
Largest altcoin by market cap ether (ETH) has seen a gain of 1.21% on the day to press time to trade around $250. Having traded above $270 on June 1, ether has corrected downwards and remained range-bound in the $240-50 range in recent days.
The altcoin is reporting a mild 2.66% loss on the week.
Ether 7-day price chart. Source: CoinMarketCap
XRP has reported a solid 4.36% gain on the day to trade at $0.42 by press time. The asset hit its intraweek price peak on June 3, when it traded close to $0.46. On the week, XRP’s losses stand at a slight 0.6%.
XRP 7-day price chart. Source: CoinMarketCap
Among the top ten cryptocurrencies at press time, all are in the green except for eighth-largest coin bitcoin sv (BSV), which has reported a 1.26% loss on the day to trade around $198.
The highest 24-hour gain has been sealed by fifth largest crypto litecoin (LTC), which has surged 8.45% to trade at $113.50. Other top ten coins such as bitcoin cash (BCH), stellar (XLM) and eos (EOS) are seeing milder gains of between 1 and 3%.
Widening out to the top twenty, virtually all coins are green, with the exception of ethereum classic (ETC), which is down a slight 0.8% to trade at $7.94 by press time.
17th largest coin tezos (XTZ) has seen the highest gain, growing 12.65% to trade at $1.34 by press time. Cosmos (ATOM) is reporting a 5.25% gain on the day, with cardano (ADA), neo (NEO) and nem (XEM) seeing more typical gains of between 3.5 and 4% on the day.
To press time, the total market capitalization of all cryptocurrencies is at around $255.78 billion — as compared with an intraweek high of $276.56 billion on June 2. Bitcoin dominance is at 55.5%.
Total market capitalization of all cryptocurrencies. Source: CoinMarketCap