Bitcoin Dips Below $8,000 as Altcoins See Mixed Movements

Sunday, Oct. 6 — The top 20 cryptocurrencies are seeing mixed movements on the day while Bitcoin’s (BTC) price dips below the $8,000 mark by press time.

Market visualization courtesy of Coin360

Bitcoin’s price is currently down by 1.83% on the day, trading at around $7,959, according to Coin360. Looking at its weekly chart, the coin is down by about 1.49%.

Bitcoin 7-day price chart. Source: Coin360

Ether (ETH) is holding onto its position as the largest altcoin by its market capitalization which currently stands at $18.84 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $10.9 billion at press time.

Coin360 data shows that ETH has seen its value decrease by about 0.31% over the last 24 hours. At press time, ETH is trading at around $174. On the week, the coin has also gained about 2.96%. 

Ether 7-day price chart. Source: Coin360

XRP is up by about 0.22% over the last 24 hours and is currently trading at around $0.253. On the week, the coin is up about 7.2%.

XRP 7-day price chart. Source: Coin360

Among the top 20 cryptocurrencies, the ones reporting the most notable price action are Chainlink (LINK), which is up 5.64%, Unus Sed Leo (LEO), which is down 6.82%, and Algorand (ALGO), which is down 5.66%.

At press time, the total market capitalization of all cryptocurrencies is $216 billion, about 0.14% higher than a week ago.

As Cointelegraph reported on Oct. 6, the United States Securities and Exchange Commission has yet again officially stated that Bitcoin is not a security.