Cryptocurrency market update: Crypto bears hit the pause button as Bitcoin (BTC) and major altcoins register minor gains

  • Bitcoin and major altcoins are range-bound with bullish bias after the sell-off on the weekend.
  • We need a new catalyst to set the ball rolling.

The cryptocurrency market has entered a recovery mode after a sharp sell-off during the weekend. Bitcoin and all major altcoins are registering minor gains ranging from 0.5% to $2.8% with the notable exception of DASH, IOTA, Chainlink and Cosmos. These coins are still in the red zone.

The total capitalization of all digital assets in circulation settled at $266 billion. The total trading volume slipped to $48 billion, while Bitcoin's market share has reduced to 64.5%.

Top-4 coins price overview

Bitcoin (BTC/USD) touched the intraday low at $9,489 before moving towards $9,625 by the time of writing. Despite the recovery, the bull's momentum remains weak, while the critical $10,000 is still out of reach. BTC/USD has gained about 1.5% on a day-on-day basis and 1% since the beginning of Monday.

Ethereum, the second-largest digital asset with the current market capitalization of $22.8 billion, has grown by 2.9%% on a day-on-day basis and 1% since the start of the Asian session on Monday. ETH/USD is hovering above $213, off the intraday low registered at $208.85. 

Ripple's XRP managed to stay above $0.3100 despite the sell-off on the market. Ripple's current market capitalization is registered at $13.3 billion, while an average daily trading volume is recorded at $893 million. The coin has neeb range-bound recently, it has stayed mostly unchanged both on a day-on-day basis and since the beginning of Monday.

Litecoin (LTC/USD) tested area below critical $90.00 during early Asian hours on Monday; however, new buying interest clustered around the strong support zone pushed in back. LTC/USD is changing hands at $90.64, having gained over 2$ of its value on a day-on-day basis. LTC is the fourth-largest coin with the current market capitalization of $5.6 billion.

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