- Bitcoin is off the recent highs, but still above $4,000.
- Altcoins are in the green zone on a day-to-day basis; the colors are about to change.
The cryptocurrency market recovered massively on Wednesday with all top-20 coins in green, gaining from 1% to 20% in the recent 24 hours. However, the joy may be short-lived as Thursday started with declines across the board. The total capitalization of digital assets in circulation jumped to $135B from $126 this time on Wednesday.
Bitcoin, the largest and the most popular cryptocurrency, has gained over 8% in recent 24 hours to trade at $4,158 by the time of writing. The coin reversed from the early Asian high of $4,245 as the bullish sentiments seem to be waning out after the most robust daily growth in many months.
Ripple's XRP is hovering at $0.3810, up over 4% on a day-on-day basis. The second largest digital asset with market value $15.3B capped $0.40 handle, which darkens the short-term technical picture. XRP/USD is moving within a short-term bearish trend, losing 3% since the beginning of Thursday.
Ethereum is trading 4% higher than this time on Wednesday and down 4% since the beginning of Thursday. The third largest coin with a market value of about $12.2B is changing hands at $118.75 at the time of writing, off the Asian high of $123.77. The short-term ETH trend is strongly bearish, while a failure to stay above $120 handle adds dark colors to the technical picture.
Tron is the biggest winner today. The coin has gained over 20% since this time on Wednesday to trade at $0.0145 at press time. Now it takes the 12th place in cryptocurrency rating provided by CoinMarketCap.
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