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

Tuesday, July 2 — most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as Bitcoin (BTC) hovers over the $10,600 mark again.

Market visualization courtesy of Coin360

Bitcoin is currently up by about half of a percent on the day, trading around $10,649 at press time, according to Coin360. Looking at its weekly chart, the coin is down by about 3.63%.

Bitcoin 7-day price chart. Source: Coin360

According to a recent report from equity research platform Seeking Alpha, Facebook’s new cryptocurrency project really can boost Bitcoin.

Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $30.7 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $16.8 billion at press time.

Coin360 data shows that ETH has seen its value decrease by over 2% over the last 24 hours. At press time, ETH is trading around $288. On the week, the coin has also lost nearly 8% of its value. 

Ether 7-day price chart. Source: Coin360

XRP is down by nearly 2% over the last 24 hours and is currently trading at around $0.398. On the week, the coin is down about 18.3%.

XRP 7-day price chart. Source: Coin360

As Cointelegraph reported earlier today, the operator of the United States-based division of Binance crypto exchange has appointed former Ripple exec as its new CEO.

Among the top 20 cryptocurrencies, the only ones reporting gains are NEO, which is nearly 7% up, and chainlink (LINK), which is about 3.7% up at press time.

At press time, the total market capitalization of all cryptocurrencies is $308.5 billion, over 8.8% lower than the value it reported a week ago.

In traditional markets, the US stock market is seeing slight losses so far today, with the S&P 500 down 0.06% and the Nasdaq down 0.18% at press time. The CBOE Volatility Index (VIX), on the other hand, has lost 3.13% on the day at press time.

Major oil futures and indexes are seeing discreet gains today, with WTI Crude down 3.18%, Brent Crude down 2.71% and Mars US up 1.36% at press time. The OPEC Basket is up 0.17% and the Canadian Crude Index has lost 6.6% over the 24 hours by press time, according to OilPrice.


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