Crypto Markets Trade Sideways, Oil Demonstrates Slight Losses

Friday, March 8 — cryptocurrency markets are trading sideways, remaining relatively quiet with moderate losses throughout the top 20 coins, according to Coin360.

Market visualization from Coin360

The leading cryptocurrency Bitcoin (BTC) is up 0.5 percent during the past 24 hours, and is trading at around $3,942 at press time. BTC began the day at $3,921, hitting its highest mark at $3,947 in the middle of the day before reaching its current price.

Bitcoin 24-hour chart. Source: CoinMarketCap

Ethereum (ETH) is down by 0.06 percent on the day, trading around $138.69. The altcoin’s weekly chart shows a price slump to $125 on March 4, with a jump to $139 on March 6 as the intra-week high.

Ethereum 7-day chart. Source: CoinMarketCap

The third largest cryptocurrency by market cap Ripple (XRP) is also down by 0.82 percent over the day, and is trading around $0.312 at press time. Over the past seven days XRP is down by 2.5 percent.

Ripple 7-day chart. Source: CoinMarketCap

Binance Coin (BNB) has stood out among other top 20 coins, losing over seven percent on the day. The altcoin is trading at around $14.46, while its daily trading volume is around $2 billion, according to CoinMarketCap. On its weekly chart, BNB is still up 26.37 percent.

Binance Coin 7-day chart. Source: CoinMarketCap

During the last week, total market capitalization of all 2,102 coins on the CoinMarketCap list has demonstrated a gradual increase to the current price point of $133.9 billion, with a mild decrease to $125.1 billion on March 4.

Total market capitalization 7-day chart. Source: CoinMarketCap

U.S. West Texas Intermediate (WTI) crude futures slumped by 58 cents, or 1.02 percent over the day, and is trading at around $56.08 at press time. CNBC reports that earlier today WTI lost more than 3 percent reaching the three-week low at $54.52.

Brent Crude futures are down 0.77 percent, or 51 cent on the day, and are trading at around $65.79. The international benchmark for oil prices was reportedly on pace for a roughly 1 percent gain on the week.

As MarketWatch reported today, the Dow Jones Industrial Average fell by 200 points, or 0.08 percent to the price point of $25,270, while the S&P 500 index lost 0.6 percent to trade at around $2,743.