Crypto Markets Lose $2 Billion After Brief Recovery Attempt, US Stock Market Is Down

Tuesday, Feb. 26: after a brief recovery attempt yesterday, crypto markets have lost more than $2 billion in terms of total market capitalization today, with the top 20 cryptocurrencies seeing mixed signals.

The largest cryptocurrency, Bitcoin, is down around 1 percent over the past 24 hours, trading at $3,847 at press time.

Following major losses on Feb. 24, the top cryptocurrency is down over 3 percent over the past 7 days.

Trading at about $137 by press time, Ethereum is down more than 7 percent over the past 7 days, after the coin hit $165 on Feb. 23.

In contrast, Ripple, the third top cryptocurrency by market cap, is seeing slight gains of less than one percent over the past 24 hours, trading at $0.32 at press time.

BSV jumped almost 7 percent on the day, while weekly gains amount to almost 8 percent at press time.

After hitting $132.7 billion yesterday, total market capitalization of all cryptos has declined to $130.3 billion at press time, while daily trade volume has also fallen to around $28 billion from yesterday's almost $33 billion.

The Dow Jones Industrial Average tumbled 100 points earlier today, while the S&P 500 declined 0.1 percent, and Nasdaq Composite dipped 0.15 percent.

Oil prices are mostly down today as Saudi Arabia and the rest of the OPEC participants were expected to keep their policy of cutting production, in spite of renewed pressure from U.S. President Donald Trump, according to CNBC. Among the exceptions, after a price decline on Monday, Brent crude rose 0.5 percent, while the Canadian Crude Index is also seeing gains of 1.65 percent.

On Tuesday, spot gold was down 0.05 percent, while gold futures declined 0.11 percent today.