- Bitcoin recovered from dangerous $4,050, but the trend remains bearish.
- Altcoins follow the lead, however, Bitcoin Cash demonstrates positive momentum.
The cryptocurrency market is colored in red this Wednesday. All major coins are declining, while the total capitalization of digital assets in circulation dropped to $144B, shedding another $15B in recent 24 hours.Â
The carnage continues as market participants switched into “half-empty-glass†stance, interpreting all incoming news as negative.
Bitcoin, the largest cryptocurrency by market value, touched $4,051 low on Tuesday before recovering to $4,330 by the time of writing. The coin is down 9.5% in recent 24 hours and somewhat unchanged since the beginning of Wednesday.Â
Ripple’s XRP is changing hands at $0.4332, down over 12% on a day-on-day basis. The second largest coin with market value $17B is moving within a strong bearish trend as yesterday’s attempt to recover above $0.50 proved to be unsustainable.
Ethereum has settled at $131 handle, losing 12% since this time on Tuesday. In spite of marginal gains during early Asian hours, the coin with a market cap $13B is still trapped in a bearish trend with little signs of upcoming sustainable recovery.Â
Bitcoin Cash is again the fourth largest coin with market value $4B. The coin has gained 1% on a daily basis to become the only coin with positive momentum out of top-10. The global cryptocurrency exchanges are resuming trade with BCH. Some of them have re-designated BCH ticker to Bitcoin ABC, one of the coins, produced by the hard fork.
What’s going on in the crypto universe
The US DOJ investigates Tether manipulations, considering that they might have caused a strong rally on the cryptocurrency markets last year
The UK’s FCA is considering a ban on cryptocurrency derivatives
India plans to introduce cryptocurrency regulation
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