Crypto update: Bitcoin continues to push higher, Ethereum, Ripple, and Bitcoin Cash sink lower

It has been another reasonably mixed 24 hours of trade for the crypto market. Although there have been gains for the Bitcoin (BTC) price, many of the larger alt coins are tumbling lower again today.

This has restricted the market’s gain over the period to 0.75%, lifting its value to US$239.4 billion according to Coin Market Cap.

Here is the state of play on Wednesday morning:

The Bitcoin price has risen 1% over the last 24 hours to US$7,367.94 per coin, lifting the crypto giant’s market capitalisation to almost US$127.1 billion. Traders appear to be cautiously optimistic in relation to another U.S. Security and Exchange Commission meeting later this month to discuss whether to grant approval for a Bitcoin exchange traded fund (ETF). Though, it is worth noting that experts feel that the plans of Intercontinental Exchange, owned by the NYSE, to roll out a bitcoin ETF on November 5 could be the one to watch.

The Ethereum (ETH) price has fallen 1.5% since this time yesterday to US$286.47 per token, reducing its market capitalisation to US$29.15 billion.

The Ripple (XRP) price has fallen 1.2% over the period to 33.33 U.S. cents, leaving it with a market capitalisation of US$13.2 billion.

The Bitcoin Cash (BCH) price has dropped 0.5% over the last 24 hours to US$626.98. This decline leaves the BCH market capitalisation at just under US$10.9 billion.

The EOS (EOS) price has fallen 0.1% since this time yesterday to US$6.51 per token, reducing its market capitalisation to US$5.9 billion.

The good news for crypto traders is that outside the top five things were much more positive.

The Stellar (XLM) price rose 5% to 23.44 U.S. cents, the Litecoin (LTC) price rose 4.2% to US$68.40, Tether (USDT) was flat at 99.86 U.S. cents, Cardano (ADA) climbed 1.5% to 10.6 U.S. cents, and the Monero (XMR) price pushed a further 2% higher to US$137.28.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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