Market Overview

Cryptos Lag Behind Bitcoin Majestic Climb

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Cryptos Lag Behind Bitcoin Majestic Climb
  • Major cryptocurrencies apart from Bitcoin navigate a sea of red rough waters.
  • ETH/USD has traded highs around $175.24 but corrected to $171.01.
  • Ripple has been largely unbothered by the rise in Bitcoin price.

Altcoins are lagging behind Bitcoin’s incredible rise hitting a 6-month high above $6,000. The market is mostly in the red as cryptocurrencies apart from Bitcoin navigate a sea of red rough waters. Intraday charts on Thursday show NEO as the biggest loser among the major coins with losses of 4%. Dash and IOTA are correcting lower as well dropping 2.75% and 2.67% respectively.

Bitcoin update

Bitcoin is among the few assets in the green at press time. After the climb that almost hit $6,100, Bitcoin bulls are still fighting to keep the price above $6,000. The largest digital asset is trading at $6,040 following a 1.65% increase on the day.

Ethereum update

The largest altcoin is subtly in the red today having lost 0.23% of its value since the session opened. ETH/USD has traded highs around $175.24 but corrected to $171.01 at the time of press.

Ripple update

Ripple has been largely unbothered by the rise in Bitcoin price. Since the correction from April highs around $0.38, the price has not made headway above $0.33. In fact, the price has declined towards $0.2800 before rising to become pivotal at $0.3000. XRP/USD is expected to stay in the range between $0.2900 and $0.3200 for the rest of this week unless a catalyst comes its way.

Bitcoin Cash update

Bitcoin recently approached $300 but selling pressure halted the gains around $293. Instead, BTC/USD retraced to lows close to $280. There has been a correction above $285 at the time of writing but the price still swims in red waters.

Image sourced from Pixabay

Posted-In: BitcoinCryptocurrency News Eurozone Forex Global Markets General

 

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