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Cryptocurrency Market Sees Red as Bitcoin Slumps Below $11,000

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Tuesday, Aug. 13 — Bitcoin (BTC), Ether (ETH) and XRP proceed to bleed amid a crypto market turning pink. 

Market visualization. Supply: Coin360

Bitcoin is buying and selling at $11,005 at press time, with a 3.83% loss on the day. Bitcoin broke $12,000 three days in a row, from Aug. 6 to Aug. 8., however by no means managed to carry these highs for a major time frame. Then on Saturday, Aug.10, BTC worth fell by about $400 in simply an hour. Value has continued downward since then, and has even dipped beneath $10,900 in the present day.

Bitcoin 7-day worth chart. Supply: Coin360

The quantity two cryptocurrency, Ether, seems to be declining extra step by step than BTC. At press time, ETH is buying and selling over $208 and is down by 1.62% on the day. Nonetheless, Ether traders stay bullish on the token’s long-term prospects, with 54% of respondents in a Twitter survey reporting that they imagine ETH will retake the $1,000 mark in some unspecified time in the future.

Ether 7-day worth chart. Supply: Coin360

The quantity two alt by market cap, XRP, can be down by 0.87% at press time; XRP is now buying and selling simply barely over $0.299. As beforehand reported by Cointelegraph, a brand new crypto trade referred to as Beaxy just lately opted to droop XRP buying and selling. In line with Beaxy, malicious customers intentionally crashed XRP worth on the trade, which resulted in XRP/BTC buying and selling for a while at 40% of the worth out there on different exchanges.

XRP and its affiliate firm Ripple are additionally at the moment dealing with a category motion go well with from an investor, who alleges that XRP was misleadingly bought as a non-security. The plaintiff on this go well with has just lately appealed to america Safety and Change Fee (SEC) pointers on what constitutes a safety to be able to argue his case.

XRP 7-day worth chart. Supply: Coin360

Among the many top-20 cryptocurrencies, Chainlink (LINK) is definitely seeing some beneficial properties on the day, trending up by 2.36% to commerce at $2.44 at the moment. LINK beforehand noticed a significant worth rally following its itemizing on the skilled buying and selling platform Coinbase Professional, though it subsequently noticed a major downward correction.

The entire market capitalization of the highest 100 cryptocurrencies had fallen to a bit of over $293 billion at press time, in accordance with knowledge offered by Coin360’s abstract table.

Preserve observe of high crypto markets in actual time right here







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