Markets Looking Grim, Bitcoin Lingers Above $8,000 Mark
The cryptocurrency markets are looking grim, with Bitcoin’s price getting close to dipping below $8,000.
Sunday, Sept. 29 — All of the top-20 cryptocurrencies by market cap continue to struggle following the sudden nosedive on Tuesday, Sept. 24.
Cryptocurrency market daily overview. Source: Coin360
Bitcoin (BTC) has not been able to recover from Tuesday’s painful correction, which saw double-digit losses across the board.
The most popular crypto coin continues to trade sideways, down by 1.75% over the last 24 hours to trade at around $8,050 at press time, while having seen an intraday high of $8,255.
BTC found some support above the lower-$8,000 region during the better part of the day, but seems to be in danger of revisiting the $7,000s once again.
Bitcoin 7-day price chart. Source: Coin360
Ether (ETH) is not faring any better, down over 2.4% on the day, hovering around $170 at press time. The altcoin has been on a steady downward price trend throughout the week, dropping to as low as $155 on Sept. 26.
Ether 7-day price chart. Source: Coin360
Ripple’s XRP dropped 0.26% in the last 24 hours and is trading at around $0.241 as of press time. XRP registered a weekly loss of around 12%, while its monthly losses are sitting close to 7%.
XRP’s 7-day price chart. Source: Coin360
According to data from Coin360, the top-20 coins are almost all reporting losses between 0.2% and 5% on the day. Bitcoin Cash (BCH) and Dash (DASH) are the biggest losers in the top-20, down 3.78% and 4.4%, respectively.
The overall cryptocurrency market cap sits at $213.7 billion, with Bitcoin making up 67.8% of the total.