Cryptocurrency Market Update: Bitcoin bulls aim at $10,000; Ethereum stages an impressive rally

The cryptocurrency market is on fire with Bitcoin and all major altcoins growing sharply during earlu US hours. The first cryptocurrency refreshed the highest level of 2020 at $9,850 and the upside momentum is gaining traction. Meanwhile, altcoins also demonstrate bullish momentum.  The total market capitalization jumped to $277 billion. The average daily trading volumes climbed to $138 billion, while Bitcoin dominance settled at 64.2%. 

Top-3 coins price overview:

Bitcoin has gained nearly 4% in recent 24 hours with $10,000 now within reach. At the time of writing the first digital coin is changing hands at $9,850, however, the situation is fluid as the upside impulse is growing. Once $10,000 is taken out, BTC/USD buy orders will start snowballing.

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Bitcoin bulls are poised for mega trend; $10,000 within reach

Ethereum staged an impressive recovery above $200.00. The second largest coin is trading at $214.88 with over 9% gains on a day-to-day basis. ETH/USD a multi-month high at $216.20 earlier on Thursday.

Ripple's XRP settled above $0.2800 to trade at $0.2830 by press time. The third largest coin has been trading with bullish bias on Thursday and hit the recent high at $0.2849.

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Ripple Price Analysis: XRP/USD has outperformed Bitcoin reckons Mike Novogratz

The biggest market-movers out of top-20:

Binance Coin (BNB), and Bitcoin SV (BCV) gained over 6% in recent 24 hours; however, Ethereum remains the leader of altcoins with 9% rally.

The market is driven mostly by speculative sentiments and positioning, while some positive fundamental developments fuel the movements. Many cryptocurrency experts note that Bitcoin is poised for further gains, which may become the beginning of a massive rally ahead of halving.