Cryptocurrency market update: Bitcoin (BTC) breaks above $11,000, altcoins play catch up

  • Bitcoin broke above the key resistance level amid growing bullish sentiments.
  • Altcoins hesitantly follow the lead; Bitcoin's market share jumps above 67%.

The cryptocurrency market has turned into the green after Bitcoin, the most popular cryptocurrency, broke above critical $11,000. This development served as a trigger for crypto bulls improved the technical conditions on the market.

The total capitalization of all digital assets in circulation surpassed to $300 billion for the first time since the mid-July, while Bitcoin's market share jumped above to 67%.

Top-4 coins price overview

Bitcoin's recovery has gained ground as the decisive move above $11,000 attracted new buyers to the market and helped to develop the upside momentum. At the time of writing, BTC/USD is changing hands at $11,590, with over 6% of gains on a day-on-day basis. The intraday Relative Strength Index (RSI) stays on the overbought territory; however, the price shows no signs of reversal as of yet.

Ethereum, the second-largest digital asset with the current market capitalization of $24.5 billion, is 3% higher on a day-on-day basis. ETH/USD has settled at $229.70 after an attempt to break above $231.00 during early Asian hours. 

Ripple's XRP has finally moved outside its range and settled above $0.3200. However, the upside momentum is still weak as the coin stopped short on approach to the next p=barrier of $0.33 and retreated towards $0.3220 by the time of writing.

Litecoin has gained about 1.5% of its value in recent 24 hours. The coin now takes fifth place in the global cryptocurrency market rating with the current value of $6.0 billion. LTC/USD is changing hands at $95.30, off the intraday high registered at $96.20.

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