Current Market Overview
As of Sunday, Jan. 19, the cryptocurrency market is experiencing a tumultuous day with most of the top 20 digital currencies reporting notable losses. Bitcoin (BTC), the heavyweight of the bunch, is struggling just below the $8,600 mark after reaching a high of nearly $9,200 earlier today, resulting in a loss of 7.32%.
The Bitcoin Rollercoaster
At present, Bitcoin’s price hovers around $8,636, reflecting a daily decrease of 3.08%. Although this may seem disheartening, if we take a step back and look at the weekly performance, Bitcoin is still riding high with a 6.42% increase over the past week. However, it’s worth noting that it saw a swift dip of $514 in just five minutes—talk about an emotional rollercoaster!
Ethereum’s Hold
Meanwhile, Ethereum (ETH) is standing tall as the leading altcoin, boasting a market cap of $18 billion. Despite the chaos, ETH has managed to maintain its stance, albeit down 3.41% over the last 24 hours. At press time, it trades around $164, showing a commendable weekly gain of 14.68%. It seems like ETH is still having a good hair day, even in a rough market!
XRP’s Current Struggles
Ripple’s XRP is not immune to the downturn either, witnessing a decline of about 3.43% over the last day and 8.36% from today’s peak. Currently trading at around $0.23, XRP has seen a modest weekly uptick of 7.98%. So, while it’s not basking in glory, it’s at least keeping its head above water!
Top Losers in the Crypto Realm
The pain is palpable for some cryptocurrencies, with a few suffering from double-digit losses in the past 24 hours. Here are some that have felt the burn:
- DASH: -15.6%
- Ethereum Classic (ETC): -12.85%
- Bitcoin SV (BSV): -10.8%
- Bitcoin Cash (BCH): -11.24%
The Overall Market Cap
Despite the losses, the total market capitalization of all cryptocurrencies stands at $235.5 billion, which is still a healthy 8.5% increase from last week. Just remember, every cloud has a silver lining, even in crypto!
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