Bitcoin Price Drops Over $500 in 5 Minutes, Top Altcoin Also See Red

Sunday, Jan. 19 - most of the top 20 cryptocurrencies are reporting severe losses on the day by press time as well as Bitcoin which now hovers just under the $8,600 mark falling from today's high of nearly $9,200, making it a 7.32% loss.

Bitcoin price is currently down by 3.08% on the day, trading at around $8,636 at press time, according to Coin360.

Looking at its weekly chart, the coin is still up by about 6.42%. Bitcoin's price movement has seen the price decrease by $514 in around 5 minutes.

Ether is holding onto its position as the largest altcoin by market cap, which currently stands at $18 billion.

The second-largest altcoin, Ripple's XRP, has a market cap of $10 billion at press time.

Coin360 data shows that ETH has seen its value decrease by about 3.41% over the last 24 hours and 7.3% since the highs of today.

XRP is down by about 3.43% over the last 24 hours and down 8.36% from today's hight.

On the week, the coin is up about 7.98%. XRP 7-day price chart.

Among the top 20 cryptocurrencies, the ones reporting two-digit losses for 24 hours are DASH, which is down by 15.6%, Ethereum Classic, which lost 12.85% of its value, Bitcoin SV, which lost 10.8%, and lastly Bitcoin Cash which lost 11.24%. At press time, the total market capitalization of all cryptocurrencies is $235.5 billion, about 8.5% higher than the value it reported a week ago.

Since today's high, the total market cap is down by 5.91%.Keep track of top crypto markets in real time here.