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The price of bitcoin fell sharply and the rest of the crypto market followed. The rest of the market, Binance Coin, withstood the downtrend and climbed to 10th place in the market capitalization.
Outside the top 10, almost everything was red. Bitcoin itself was barely flirting with a world average of just over $ 3,400, while Ethereum dropped by a few dollars to $ 104 and the XRP finally dropped below $ 0.30.
Bears Deal Bitcoin another blow
As noted above, the global average for Bitcoin still clings to $ 3,400. But many exchanges, including Coinbase, have it between $ 3,300.
The slide started around 9:00 pm last night.
The late deals last night were marked by a trough of more than $ 65, from which Bitcoin did not recover. For reference, the loss on each BTC on Coinbase was sufficient to buy a full Bitcoin SV. The bears fought all morning to make it fall, reaching a minimum of about $ 3,345. At the time of printing, it was selling for $ 3,360.
This is certainly not the "big upheaval" we were told to wait for yesterday, but it will take significant buying pressure on the $ 5 billion volume market to bring it back to over $ 3,400. and reach the $ 3,500 "support" we had experienced before.
Ethereum follows Bitcoin in decline
The decline of Ethereum was largely proportional to that of Bitcoin, but it was worse. A dollar or two is much more for a symbol that struggles to stay above $ 100 than for a man comfortably resting above $ 3,000.
ETH lost a few dollars of its overall price.
Similarly, Ethereum made about half of the Bitcoin volume, more than 2.5 billion dollars. The current state of the dPA sector does not help much. Anyway, it's hard to complain about being able to buy ether as cheaply. Long-term, philosophical traders understand that cryptographic badets are just beginning their value cycle.
The Binance coin resists the gravity of the market
At about the same time Bitcoin and Ethereum began to lose last night, Binance Coin (BNB), a token used primarily to pay fees on the world's largest cryptographic exchange, was beginning to win.
BNB started to win while everyone started to slide. He ended up in the top 10, while Bitcoin SV went out.
With a volume of more than $ 120 million over 24 hours, the token has reached $ 8.00 overall per price, surpbading Bitcoin SV. At the time of writing this article, BNB is the 10th largest cryptocurrency by market capitalization. It has an offer of nearly 142 million euros and a price per token of $ 8.00.
Corrugation price (XRP) among the most affected
In terms of percentages, Ripple (XRP) suffered a little more than Ethereum or Bitcoin. As you can see in the table below, which includes BTC and ETH, the losses started at about the same time. The main factor in this regard is that the XRP is often traded for BTC or ETH.
Ripple did a little worse than BTC and ETH. We wonder if she will recover when BTC and ETH will do it or not.
In any case, the overall price of Ripple is now officially less than $ 0.30. Unless Ripple Labs emits new or other optimistic sentiments, we can expect this downward trend to continue for XRP as long as Bitcoin and Ether suffer losses. What we will want to check is whether the bank friendly token wins with them or continues to lose at the next rebound.
Disclaimer: Always keep in mind that you are alone when negotiating a crypto. It is not a commercial council. As a rule, this reporter recommends anyone to avoid storing coins on exchanges.
Featured image of Shutterstock. TradingView Price Charts.
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