Bitcoin Hovers Under $7,550 as Altcoins See Moderate Gains

Most of the top 20 cryptocurrencies are reporting moderate gains on the day, as Bitcoin hovers around the $7,550 mark again.

Saturday, Dec. 7 — most of the top 20 cryptocurrencies are reporting moderate gains on the day by press time, as Bitcoin (BTC) hovers just under the $7,550 mark again.

Market visualization courtesy of Coin360

Bitcoin price is currently up by 2.12% on the day, trading at around $7,537 at press time, according to Coin360. Looking at its weekly chart, the coin is down by about 1.71%.

Bitcoin 7-day price chart. Source: Coin360

Earlier today, on-chain analyst and trader, Willy Woo, said on Twitter that he believes that Bitcoin’s on-chain momentum is becoming bullish. He suggests that investors are preparing for halvening front running.

Ether (ETH) is holding onto its position as the largest altcoin by market cap, and currently stands sits at $16.3 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $9.8 billion at press time.

Coin360 data shows that ETH has seen an increase in value about 0.4% over the last 24 hours. At press time, ETH is trading around $150. Over the past week, the coin has lost about 2.59% of its value. 

Ether 7-day price chart. Source: Coin360

XRP is up by about 1.55% over the last 24 hours and is currently trading at around $0.225. On the week, the coin is down by about 0.87%.

XRP 7-day price chart. Source: Coin360

Among the top 20 cryptocurrencies, the one reporting the highest gains is Tezos (XTZ), which has grown by almost 10% over the 24 hour period.

At press time, the total market capitalization of all cryptocurrencies is $204.8 billion, about 1.92% lower than the value it observed a week ago.