Bitcoin Price Drops on the Day as Altcoins Send Mixed Messages

Saturday, Aug. 10 — the top 20 cryptocurrencies are reporting largely reddish movement on the day, as Bitcoin (BTC) price saw a sudden dip earlier today.

Market visualization courtesy of Coin360

Bitcoin’s price is currently down 4.62% on the day, trading at around $11,370 at press time, according to Coin360 after slipping from around $11,800 to $11,400 in a matter of minutes between 7:30 a.m. and 7:45 a.m. Coordinated Universal Time. Looking at its weekly chart, BTC is up by about 5.5%.

Bitcoin 7-day price chart. Source: Coin360

Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $21.9 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $12.45 billion at press time.

Coin360 data shows that ETH has seen its value decrease by about 2.63% over the last 24 hours. At press time, ETH is trading at around $206. On the week, the coin has dropped about 6.82% of its value. 

Ether 7-day price chart. Source: Coin360

XRP is down by 2.18% over the last 24 hours and is currently trading at around $0.296. On the week, the coin is down by roughly 5.62% as of press time.

XRP 7-day price chart. Source: Coin360

Among the top 20 cryptocurrencies, Cardano (ADA) and Chainlink (LINK) are reporting the most notable gains on the day, at 10.46% and 5.46%, respectively. 

While Tezos (XTZ) experienced a price surge earlier this week following Coinbase’s announcement of support for the coin, XTZ is down by just over 5% on the day as of press time, the largest loss among top 20 cryptocurrencies. 

The current total market capitalization of all cryptocurrencies stands at $294.2 billion, about 1.2% higher than reported a week ago.