Cryptocurrency market update: Bitcoin is ready to resume growth
- BTC/USD is creeping towards critical resistance of $9,000.
- Altcoins are moving higher in sync with the first digital asset.
The cryptocurrency market has entered a range-bound phase consolidating exiting gains of the weekend. While Bitcoin and the majority of top-20 altcoins have retreated from the intraday highs, the overall trend remains clearly bullish. The total capitalization of all digital assets in circulation increased to $271 billion from $269 billion during Asian hours, while an average daily trading volume hit $91 billion by the time of writing.
The head and the co-founder of eToro Yoni Assia believes that the crypto spring is upon us.
"The spirit is back in the market. The bulls are still there. Bears didn't kill the bulls yet, and I think we're seeing somewhat of a revival," he said in the interview with Crypto Potato.
His view is shared by many other industry experts, who prefer to stay cautiously optimistic.
Top-3 coins price overview
- Bitcoin is changing hands at $8,850, off the intraday high hit at $8,944. The first digital coin has gained over 10% in the recent 24 hours. The upside momentum is gaining traction ahead of the US opening
- Ethereum, the second largest digital asset with the current market capitalization of $29 billion, is trading at $272, off the earlier high $274. ETH/USD has gained 8% in the recent 24 hours.
- Ripple's XRP is creeping towards $0.4200. The third largest coin is changing hands 8% higher from this time on Sunday. The coin has retreated from the Asian high of $0.42 amid technical correction.
The biggest market-movers
- Bitcoin SV (BSV) is a growth leader today with over 23% gains in recent 24 hours One BSV gores for $117 at the time of writing.
- Litecoin is also doing well with 14% of gains on a day-on-day basis. LTC/USD is trading at $115/45 and moving quickly towards critical $120.
Author
Tanya Abrosimova
Independent Analyst
