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“Red Blood” is On Crypto Market

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Bitcoin (BTC) has continued to trade sideways for most part of the day, while taking a sudden dip in recent hours.

source: coin360

The world’s most popular cryptocurrency traded flat for the better part of the last 24 hours, with an intraday high of around $8,400. In the last couple of hours, BTC took a sudden dip to under the $8,200 price mark, showing a loss of more than 2% on the day.

Bitcoin’s average daily trading volume hovers around $15 million, while its market share decreased to 66.4%, which is the lowest level since the beginning of August.

On the positive side, BTC is still up 120% compared to the beginning of the year when it was trading in the range of low $3,000s.

Altcoins are in sorrow

Altcoins are showing a price downturn that might be a sign of worse things to come. The top-20 cryptocurrencies are mostly showing red candlesticks, with EOS being hit with a loss of more than 6%. Tron (TRX), Cardano (ADA) and Chainlink (LINK) are all showing losses of around 5% on the day.

The exception is Bitcoin SV (BSV), which is showing gains of almost 4% on the day. One BSV trades at nearly $90.

The overall cryptocurrency market cap sits at $222.5 billion, with Bitcoin making up 66.3% of the total.

Reference: Cointelegraph

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