Top 10 Cryptocurrencies in the Red, Bitcoin Lingers at $7,000-$7,100 Level

Apr 20, 2020 at 14:46 // News
Coin Idol
Cryptocurrencies open the week in the red

Many popular cryptocurrencies, including Bitcoin (BTC), have opened the week in the red and BTC has receded to a little bit over $7,000 after it touched $7,300 mark. However, the market prices are on the right track to rally.

The cryptocurrency board has again demonstrated a major decline a few hours past the weekend. Although the bullish sentiment disclosed by the Ethereum/Bitcoin pair through last Thursday's stretch led to changes in the BTC and ETH scene, today’s market is seemingly in total turmoil.

Declining prices of altcoins

The weekend has sent the community warnings against a potential plunge of the top cryptocurrencies including Bitcoin and this is a contemplation of the general market trend, which is pessimistic and disregards the boom in price positive trajectory. So far, there is a divergence between the signals and price, but one of the two sides will overcome the other to balance the situation with time.

According to fxstreet, the current market sentiment level is 15 and this indicates an extreme fear level similar to last week's. The levels of pessimism also show the possibility of oversold markets with a positive trend in price.


All top 10 tokens are trading in red including Tether (USDT, $1.00, -0.73 percent). Among all cryptocurrencies, USDT has the highest volume of $44.1 Billion.


Based on Coinmarketcap data, all of the top 30 cryptocurrencies, besides NEM, are on the rise. Since Thursday, we saw Bitcoin (BTC) safe and sound trading above the $7000 level.

Looking at the top 100 cryptocurrency movements, 76 digital currencies were on the rise, and 24 cryptocurrencies are lighting red, indicating a decline.

BTC/USD 24h price analysis

On April 20, Bitcoin was trading in the red at around $7,064 (-1.77 percent) with a market cap of $129.53 Billion and volume of 33.41 Billion.


Ethereum and Ripple 24h price analysis

Ethereum (ETH) is trading at $179, 1.13% down, with a market cap of about $19.89 bln and volume of $19.27 billion. ETH was among the best weekly performers with additions pointing $200.


Ripple (XRP) was changing hands at over $0,190214, 1,23% down with MC of around $8.38 billion and trading volume of around $2,155 billion. 


BTC hit $7,300 on April 20; to temporarily jump the resistance level the price has been stuck within since Monday, April 6, and Ethereum surpassed $180 up 6.06 percent at 9:00 AM NY time on the same day. 

The entire market capitalization of over 5,360 cryptocurrencies across 21,434 markets globally was over $208.116 billion.


Best performers on the market

As of April 20, DigiByte (DGB) was the highest performer of the top 100 digital currencies. DigiByte was trading at around $0,007732, up 11.69% as compared to the previous week, with a market cap of more than $100.3 million and volume of $4.21 million, followed by Enjin Coin (ENJ) which has closed the week with the price $0.104746 (8.98 percent). However, on April 20 its price receded to $0,099333.


Worst performers

The worst performer was Hyperion ( HYN, $0.130210, -6.09 percent) with a market cap of more than $41.25 million and volume of over $4.81M, followed by ABBC Coin ( ABBC, $0.113841, -3.05) with a market cap of over $63.23 mln and volume of $37.78 million and NEM ( XEM, $0.037147, -2.28 percent).


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