Bitcoin Fails to Hold $8K as Cryptos Trade Sideways, Stocks Tumble After Recent Surge

Tuesday, June 11 - crypto markets are trading sideways, with the top 20 coins by market cap predominantly seeing red at press time, according to data from CoinMarketCap.

Bitcoin has failed to hold the $8,000 price point that it broke yesterday after seeing another dip below $7,900 before.

At press time, bitcoin is trading at $7,878, down 0.82% over the past 24 hours, seeing a sufficient recovery from the intraday low of $7,778.

Ether, the second cryptocurrency by market cap, is down 0.85% over the day to trade at $242.97.

Ripple, the third top cryptocurrency by market cap is down 1.44%. The major coin is down 3.15% over the past 7 days.

While the majority of the top 20 coins by market capitalization are seeing losses at press time, Tezos, ranked 19th, is seeing the biggest losses of around 3.2%. Total market capitalization has recovered to $252 billion at press time after dropping to as low as $248 billion earlier today.

Daily trade volume has significantly declined from $67 billion in the beginning of the day to $57 billion at press time.

Stocks have subsequently reversed to see losses, with the Dow Jones Industrial Average having dropped about 0.2% at press time.

Oil prices have seen mixed signals today, with the OPEC basket surging 3.5%, while West Texas Intermediate crude oil edged up 0.1% and Brent crude dropped 0.1% at press time, according to Oilprice.com.

At press time, spot gold has tumbled about 0.3%, while U.S. gold futures gained 0.2%..