The cryptocurrency market looks bearish; Bitcoin (BTC) and major altcoins drift away from resistance levels

  • Bitcoin is hovering at $11,900 after a failed attempt at $12,000.
  • Tezos and Binance coin are the best performers of the day.  

The cryptocurrency market is sliding down during early Asian hours with Bitcoin and the vast majority of altcoins deep in the red. The total market capitalization has settled at $307 billion; an average daily trading volume is registered at $57 billion. Bitcoin’s market dominance climbed to a new high above $69.1%.

Top-3 coins  price overview

BTC/USD is changing hands at $11,900 handle, mostly unchanged both on a day-on-day basis and since the beginning of Friday. The first digital asset made another unsuccessful attempt to settle above $12,000, as BTC bulls are not strong enough for a decisive move.

Ethereum, the second-largest digital asset with the current market capitalization of $23.5 billion, has settled at $218.50. The coin has lost nearly 3% of its value in recent 24 hours and 1% since the beginning of the day. ETH/USD is moving within a short-term bearish trend amid growing volatility.

Ripple’s XRP broke below the lower boundary of the recent channel to trade at $0.3071 at the time of writing. XRP/USD is down 1.2% on a day-on-day basis, though a sustainable move below $0.3100 bodes ill for the coins’ short-term dynamics.

The biggest altcoin market-movers

Binance Coin (BNB) and Tezos (XTZ) are the best performing altcoins of the day. BNB/USD has gained over 5% on a day-on-day basis to trade at $31.12 by press time, while XTZ/USD has increased by 10% to trade at $1.52.

Source Link