Market Mostly Trades Sideways as Bitcoin Price Holds Above $10,300
Cointelegraph By Joeri Cant's original article for cointelegraph.com reduced by 48%
Monday, Sept. 9 - Cryptocurrency markets are largely trading sideways with most changes among the top-20 coins not exceeding 1% on the day. Bitcoin has been trading sideways for the better part of the day and seems to be holding above the $10,300 price mark.
In a crypto price analysis for Cointelegraph earlier today, Rakesh Upadhyay stated that the Bitcoin price could stay relatively stable as traders are setting themselves up ahead of the launch of Bakkt's long-anticipated Bitcoin futures platform. As Cointelegraph reported on Sept. 9, United States Securities and Exchange Commission Chairman Jay Clayton said that, although significant steps have been taken to address regulatory concerns vis-a-vis a Bitcoin exchange-traded fund, there is still work to be done.
The number one altcoin, Ether, is not doing any better than Bitcoin today as it is showing little to no price movement. At press time, the world's third-most popular coin is trading at $0.259, which is around the exact same price as seven days ago. Other coins in the top-20 fared slightly worse, with Bitcoin SV dropping 4.5% and Tezos dropping 5.52%, while EOS is the only top-20 coin that is generating gains above 5%.
The total market capitalization of the cryptocurrency market sits at $266.4 billion at press time, with Bitcoin's dominance of total market cap dropping below 70% to 69.8% of the total.
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Summarised crypto news.