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.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Crypto Today: Bitcoin claws back its market share

BTC/USD is currently trading at $8,307 (-2.5% on a day-to-day basis). The coin has been moving within a short-term bullish trend during early Asian hours.

More Cryptocurrencies News

Ethereum Classic Price Analysis: ETH/USD bears flip the bulls, target shifts to $5

Ethereum Classic is facing the ultimate correction following a massive bull-run that had it hit January highs around $12 from December lows at $3.41. The persuasive urge upwards has, however, ended in losses due to a lack of ...

More Ethereum Classic News

XRP/USD struggles to save triangle support at its peak

Ripple price struggles to stay above $0.22 support amid a forceful downtrend momentum from recent highs at $0.255. The formation of a falling triangle hints a bullish breakout if its support is defended and XRP bulls allowed to focus on $0.24 resistance.

More Ripple News

DASH Price Analysis: DASH/USD dips below the $100-mark

DASH/USD fell from $102.75 to $97.45, dropping below the $100-level in the process. DASH/USD has charted three straight bearish sessions in the daily chart after the bulls ran out of steam at the $110.60-level.

More Dash news

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Bulls piggy-back on altcoins rally

This week was marked by a strong altcoins rally on the cryptocurrency markets. Bitcoin SV (BSV) and Dash experienced the sharpest price increase over 100% in recent seven days...

Read the weekly forecast

BTC

ETH

XRP