Monday, on 25th feb. Crypto market is undergoing a pointy reversal, covering significant losses over the past 24 hours to the reporting time after seeing major gains. Most of the severe downward movement among prime coins happened in a very short duration of time.
The major crypto-currency, Bitcoin [BTC] was able to break the $4,100 USD price mark on 24 Feb., which has now fallen to under $3,900 USD, at the reporting time, as per data provided by ‘CoinMarketCap‘.
At the reporting time, Bitcoin [BTC] is down over 5% on the day, presently trading at around ‘$3,838.31 USD‘, which is about 6.47% down from its mid-day peak price of around $4,211.3 USD. While watching its weekly chart, the present worth is simply beneath 5% over $3,632 USD, the worth at which Bitcoin [BTC] started earlier week.
CME derivatives group earlier on 21 Feb., tweeted that the recent surge in the price of Bitcoin [BTC] at the starting of the earlier week led to a record Bitcoin futures volumes on 19th Feb., with above eighteen thousand contracts listed.
Ethereum [ETH] while for today has also seen significant losses, down to around 10.17% over the past 24 hours, in line with CoinMarketCap. At the reporting time, Ethereum is presently trading around ‘$141.17 USD‘. The present worth is around 16% below the coin’s mid-day high of yesterday at $165 USD.
On the weekly chart, Ethereum [ETH] has seen its price increase nearly 9.1% from $126 USD, the worth at which the coin started the earlier week.
The third major crypto-currency Ripple [XRP] on the other hand, has lost nearly 7.68% within the past 24 hours to the reporting time and is presently trading at around ‘$0.304 USD‘.
On its weekly chart, Ripple [XRP] has nearly entirely reversed its gains, up simply by fractions of a percent from the beginning of the earlier week.
Among the top twenty crypto-currencies, those experiencing the foremost notable losses are Litecoin [LTC], Ethereum Classic [ETC], Bitcoin Cash [BCH], EOS [EOS] and Ethereum [ETH], all seeing double-digit losses over 10%, at the reporting time.
The ‘total capitalisation‘ of all crypto-currency market hit a multi-month high by over $144 Bln earlier on yesterday before sharply falling to almost $129 Bln, at the reporting time.
As ‘reported‘ by EtherDesk yesterday, the Duma state of Russia plans to review & adopt new crypto-currency regulation, starting from March this year. The country’s former Energy Minister named ‘Igor Yusufov’, has also additionally announced the development of oil-backed crypto-currency project at its final stage.