Bitcoin Holds Over $7,800 as US Stock Market Sees Minor Uptrend
Wednesday, June 5 — most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as #bitcoin (BTC) holds over the $7,800 mark.
Bitcoin is down over 2% on the day, trading at $7,820 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is down over 10.6%. Bloomberg reported yesterday that bitcoin could be currently showing signs of an incoming reversal.
#Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $26 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $16.9 billion at press time.
CoinMarketCap data shows that #ETH has also seen its value decrease by about 1.8% over the last 24 hours. At press time, ETH is trading around $244. On the week, the coin has also seen its value decrease about 10%. #XRP is down about 3.5% over the last 24 hours and is currently trading at around $0.401. On the week, the coin is up almost 12.5%. Earlier today, #Ripple, the company behind settlement-oriented crypto asset XRP, promised a higher degree of accuracy for XRP volumes and sales.
Among the top 20 cryptocurrencies, the only one reporting double digit losses is ethereum classic (#ETC), which is down over 10%. At press time, the total market capitalization of all cryptocurrencies is $249 billion, nearly 10% lower than the value it reported a week ago.
In traditional markets, the United States stock market is seeing discrete gains so far today, with the S&P 500 up 0.5% and the Nasdaq up 0.68% at press time. The CBOE Volatility Index (VIX), on the other hand, has lost 0.48% on the day at press time.
Major oil futures and indexes are seeing mixed movements today, with WTI Crude down 1.25%, Brent Crude down 0.65% and Mars US up 0.4% at press time. The OPEC Basket is up 2.11% and the Canadian Crude Index has seen its value decrease by 2.2% in the 24 hours by press time, according to OilPrice.