Cryptocurrency market update: Bitcoin's recovery stalled on approach to $10,000

  • Bitcoin and major altcoins have recovered from the recent lows.
  • The upside momentum may be fading away on approach to critical levels.

The cryptocurrency market has recovered after a sharp sell-off on Tuesday. Bitcoin (BTC) and all major altcoins are staying green, though the upside momentum has yet to gain traction.

The total capitalization of all digital assets in circulation increased to $264 billion from $252 billion this time on Wednesday. The total trading volume is registered at $79 billion, while Bitcoin's market share decreased to  65.6%, from the recent high recorded at 66.6%.

Top-4 coins price overview

Bitcoin (BTC/USD) is hovering around $9,700 having gained 3.5% since this time on Wednesday. The first digital coin stays unchanged since the beginning of the day as the recovery has faltered on approach to the critical resistance level of $10,000. 

Ethereum, the second-largest digital asset with the current market capitalization of $22.6 billion, has settled above critical $200.00 to trade at $210.80 by the time of writing. ETH has grown by nearly 7% in recent 24 hours and touched the intraday high at $214.10. On short-term timeframes, the coin is moving within a bullish trend amid decreasing volatility.

Ripple's XRP has climbed above $0.3100 handle and touched $0.3144 during early Asian hours. The third-largest digital asset with the current market capitalization of $13.3 billion has gained 5% in recent 24 hours amid the recovery on the global cryptocurrency market.

Litecoin (LTC/USD) is one of the best performing cryptocurrencies with over 12% gains since this time on Wednesday. The fourth-largest digital asset in the global cryptocurrency rating with the current market capitalization of $5.5 billion tested areas above $90.00 handle before settling at  $89.00.

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