Bitcoin Falls Under $10,800 as US Stock Market Sees Minor Uptrend

Monday, June 17 — most of the top 20 cryptocurrencies are reporting significant losses on the day by press time, as Bitcoin (BTC) falls under the $10,800 mark again.

Market visualization courtesy of Coin360

Bitcoin is currently down about 19.67% on the day, trading around $10,695 at press time, according to Coin360. Looking at its weekly chart, the coin is up 13.28%.

Bitcoin 7-day price chart. Source: Coin360

As Cointelegraph reported earlier today, Fundstrat Global Advisers Co-Founder Thomas Lee suggested that bitcoin’s volatility makes a long-term approach towards investing in it more appropriate for most traders.

Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $30.1 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $16.6 billion at press time.

Coin360 data shows that ETH has seen its value decrease by over 16% over the last 24 hours. At press time, ETH is trading around $292. On the week, the coin has also gained over 8.2% of value.

Ether 7-day price chart. Source: Coin360

XRP is down by about 17% over the last 24 hours and is currently trading at around $0.402. On the week, the coin is down about 8.2%.

XRP 7-day price chart. Source: Coin360

As Cointelegraph reported earlier today, regulation technology startup Coinfirm will investigate how cryptocurrency Ripple is being used.

Among the top 20 cryptocurrencies, the ones who have reported the most notable losses are ethereum classic (ETC), and bitcoin sv (BSV), both over 21% down.

At press time, the total market capitalization of all cryptocurrencies is $307.6 billion, over 6.1% higher than the value it reported a week ago.

In traditional markets, the United States stock market is seeing slight gains so far today, with the S&P 500 up 0.51% and the Nasdaq up 0.74% at press time. The CBOE Volatility Index (VIX), on the other hand, has lost 2.04% on the day at press time.

Major oil futures and indexes are seeing discreet gains today, with WTI Crude down 0.05%, Brent Crude down 0.11% and Mars US up 1.22% at press time. The OPEC Basket is up 1.25% and the Canadian Crude Index has lost 0.12% over the 24 hours by press time, according to OilPrice.

Source: Cointelegraph.com

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