Bitcoin Falls Towards $3,550 as Top Cryptos See Moderate to Major Losses

Sunday, Jan. 20 — all the top 20 cryptocurrencies are seeing moderate to major losses in the 24 hours to press time. Bitcoin’s (BTC) price is nearing $3,550 again, according to Coin360 data.

Market visualization from Coin360

At press time, Bitcoin is down over 4 percent on the day, trading at around $3,587. Looking at its weekly chart, the current price is lower than $3,673, the price of Bitcoin on last Sunday.

Bitcoin 7-day price chart. Source: CoinMarketCap

Ripple (XRP) is down over 3 percent on the day, trading at around $0.321 at press time. On the weekly chart, the current price is lower than $0.332, the price at which XRP started the week — and also lower than $0.337, the midweek high reported on Jan. 14.

Ripple 7-day price chart. Source: CoinMarketCap

Ethereum (ETH) has seen its value decrease by over 4 percent over the last 24 hours. At press time, ETH is trading at almost $119, having started the day around $125. On the weekly chart, Ethereum’s current value is lower than $125, the price of the coin seven days ago.

Ethereum 7-day price chart. Source: CoinMarketCap

Among the top 20 cryptocurrencies, the ones experiencing the most notable losses on the day are IOTA (down almost 7 percent), NEO, Cardano and Bitcoin Cash (BCH) (all down over 6 percent.)

The combined market capitalization of all cryptocurrencies — currently equivalent to about $119.7 billion — is lower than $122.5 billion, the value it reported one week ago.

Total crypto market cap 7-day chart. Source: CoinMarketCap

As Cointelegraph recently reported, a bill meant to clarify the classification of cryptocurrencies has been introduced in the U.S. state of Wyoming on Jan. 18.

Also, news recently broke that Wyoming has passed two new house bills that aim to foster a regulatory environment conducive to cryptocurrency and blockchain innovation.