Bears regain control as Bitcoin (BTC) and major altcoins nursing losses
The cryptocurrency market is sliding; bulls are losing positions.
Sellers control Bitcoin and major altcoins during Asian hours on Friday.
The cryptocurrency market is a mixed picture with a mostly bearish bias on Friday. Bitcoin and all major altcoins are nursing losses after a short-lived recovery on Thursday. The total capitalization of all digital assets in circulation dropped to $318 billion from $331 billion on Thursday, while an average daily trading volume reduced to $76 billion from $86 billion this time yesterday. Bitcoin’s market share dropped to 62.4%.
Bitcoin (BTC/USD) touched the area below $11,000 handle during early Asian hours on Friday. The first digital has lost over 5.5% of its value since this time on Thursday and stayed unchanged since the beginning of the day; $11,000 remains a key for the further BTC price development.
Ethereum, the second largest digital asset with the current market capitalization of $30.5 billion, retreated lower after an unsuccessful attempt to break $300 barrier. ETH/USD has gained 1.2% since the beginning of the Asian session and lost over 4% on a day-on-day basis.
Ripple’s XRP, the third largest digital asset with the current market capitalization of $16.3 billion, has continued moving to the South and touched $0.3788 during early Asian hours on Friday. The coin has lost 1.1% since the beginning of the day. Ripple’s XRP has lost 4.5% on a day-on-day basis.
Litecoin (LTC/USD), the fourth largest coin with the current market capitalization of $7.5 billion is hovering below $120.0 amid slow market activity. Litecoin touched $120.12 during early Asian hours, but the upside momentum proved to be unsustainable. LTC/USD is changing hands at $119.75, mostly unchanged on a day-on-day basis.