Bitcoin and US Stock Market Both See Minor Losses

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Wednesday, May 29 — most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as bitcoin (BTC) still holds over the $8,000 mark, with minor gains on the day.

Market visualization courtesy of Coin360

Market visualization courtesy of Coin360

Bitcoin is over .5% down on the day, trading at $8,658 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is up about 8.55%.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: CoinMarketCap

As Cointelegraph reported earlier today, the number of wallets holding between 1,000 and 10,000 bitcoin (BTC) has seen a sharp increase since the crypto market bottomed this winter, indicating significant accumulation during the price dip.

Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $26.6 billion. The second-largest altcoin, XRP, has a market cap of $18.5 billion at press time.

CoinMarketCap data shows that ETH has seen no movement over the last 24 hours. At press time, ETH is trading around $270. On the week, the coin has also seen its value increase almost 6%.

Ether 7-day price chart

Ether 7-day price chart. Source: CoinMarketCap

On May 24, New York-based blockchain firm ConsenSys released a new Blockchain and DApp Developer Job Kit to help aspiring Ethereum blockchain developers enter the market.

XRP is over 3% up over the last 24 hours and is currently trading at around $0.440. On the week, the coin is up over 38%.

XRP 7-day price chart

XRP 7-day price chart. Source: CoinMarketCap

Among the top 20 cryptocurrencies, the one reporting the most notable price action is bitcoin SV (BSV), which is up over 20% on the day.

At press time, the total market capitalization of all cryptocurrencies is $272.9 billion, over 9% higher than the value it reported a week ago.

Total market capitalization 7-day chart

Total market capitalization 7-day chart. Source: CoinMarketCap

In traditional markets, the United States stock market is seeing discrete losses so far today, with the S&P 500 down 0.84% and the Nasdaq down 0.39% at press time. The CBOE Volatility Index (VIX), on the other hand, has gained a solid 4.91% on the day at press time.

Major oil futures and indexes are mostly up today, with WTI Crude down 1.96%, Brent Crude down 1.79% and Mars US up 0.96% at press time. The OPEC Basket is up 0.03% and the Canadian Crude Index has not seen its value change in the 24 hours by press time, according to OilPrices.

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