BTC takes a breather as crypto market turns red

Today’s edition of OKEx Insights’ Crypto Market Daily covers Bitcoin, Ethereum, altcoins and DeFi.

The price of Bitcoin ( BTC) is starting to take a breather after an impressive 11.7% rally over the past seven days. The market-leading cryptocurrency is down 3.7% across global exchanges and is trading at 17,375 USDT on OKEx.

Major altcoins are also shaving valuations, with most down somewhere between 1% and 5% against the United States dollar or USD-pegged stablecoins.

The total cryptocurrency market capitalization has lost 1.3% today and is now back below $500 billion, according to CoinGecko. BTC dominance has also shaved off 0.3% from yesterday.

The traditional markets are pulling back after an impressive rally that came off the back of positive news relating to COVID-vaccine trials. Dow Jones, S&P 500 and Nasdaq futures all fell yesterday.

Top altcoin gainers and losers

  • PNK/USDT +45.02%
  • ROAD/USDT +34.23%
  • LMCH/USDT +26.17%
  • APIX/USDT -13.54%
  • FRONT/USDT -23.08%
  • APM/USDT -26.02%

Though the cryptocurrency market is almost universally down today, some altcoins have outperformed. The big winner of the past 24 hours is Pinakion ( PNK), though the infamously poor-performing ROAD managed to take the second spot.

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BTC takes a breather as crypto market turns red was originally published in OKEx Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Publication date: 
11/19/2020 - 12:00

The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.