Bitcoin Touches $6,600 as Crypto Markets Continues to Trade Sideways

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Photo Credit: Crypto-News

The crypto markets have been trading sideways for the last 24 hours with all of the top 20 coins seeing losses after some initial growth yesterday.

The leading cryptocurrency by market cap, Bitcoin, is slightly down 0.3 percent and currently exchanging for $6,627. During the day, Bitcoin flipped two dollars below the $6,600 price mark with an intraday high of 6,669. However, while the crypto markets continues to fluctuate, Bitcoin has been holding up quite strongly to its 2 percent weekly gains. As a matter of fact, Bitcoin is up 5 percent over the last 30 days.

Ethereum (ETH) the second leading cryptocurrency has been trading around the same level in the last 24 hours, fluctuating between $226 and $231. Ethereum is down by over 1 percent in the last 24 hours and currently trading at $227 as at the time of writing this report. Notwithstanding, Ethereum is up by three percent in the last 7 days.

Out of all the 20 top coins in the crypto markets, Ripple (XRP) has experienced the biggest fluctuations in the last 24 hours. The third leading cryptocurrency by market cap is down by over 2 percent in the last 24 hours and currently exchanging for $0.48. A look at its weekly analysis shows that Ripple is down by 20% even though it is still holding on to its monthly gains of 77 percent.

In the last 24 hours, total market capitalization has been fluctuating between $218 billion and $221. As at press time, the total crypto markets cap was $219 billion, with daily trading volume dropping slight below the $11 billion threshold.

Out of the top 20 Cryptocurrency, Tezoz is the only digital assets on the crypto markets with significant gains. Tezoz (XTZ) is up by 3.4 percent and currently trading at $1.41. Interestingly, it is up by 6 percent over the past 7 days.

Dogecoin too isn’t left out as it is slightly up and trading at $0.0056 as at press time. In the last 24 hours, the cryptocurrency is up 0.7 percent.

With the crypto market seeing little action in the past couple of weeks, Nigel Green, the founder of financial advisory organization DeVere Group has stated that this could be a “signal that the crypto markets is maturing.” Indeed, the markets have seen some sort of lack of volatility recently. Bitcoin reportedly hit “an inflection point with volatility at a 17-month low.”