Slight Market Rebound In Shabby Crypto Markets

Today’s crypto markets are looking healthier than the day before with 16 of the top 20 coins in greens. Impressively, Bitcoin is back above $6500 even though it has struggled to find its way past $6550 on the day.

The top cryptocurrency had a press time price of $6540, up by 0.89% on the day and over 3% over the last seven days.

In a broader perspective, growth range for the top 20 coins by market cap is within 0-3 % while the total market cap of all cryptocurrencies is slightly above $211 billion. The biggest gainers are NEM and BCH with 3.61% and 2.18% respectively.

The second cryptocurrency by market cap, Ethereum is recording gains that are so similar to Bitcoin. The altcoin is up by 0.78% on the day with a press time price of $205 and a market cap of $21 billion.

XRP has performed better on the weekly scale with a 10% increase in the total market cap. On the daily charts, though, the coin is up by 0.52% with prices pegged within $0.45 and $0.46 in the last 24 hours.

Stablecoin Tether has been making the headlines for all the wrong reasons after falling below $1. The coin is still seeing a 0.14 loss on the day while the press time price was $0.98.

USDT

USDT still below $1

General Cryptocurrency Market Outlook

It is important to point out that the crypto markets have remained relatively stable after the massive dip that took place on October 14. Over the last seven days, the total market cap has perfectly defended the $200 billion mark, hovering mainly between $208 and $212 within this period.

Any predictions of a bullish breakout may be premature, especially because of the low volatility level which is becoming characteristic of the crypto market.

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