The cryptocurrency market update: Bitcoin settles above $10,000 amid sluggish recovery

  • Bitcoin is hovering below $10,200 with a short-term bearish bias. 
  • Altcoins have recovered from the recent lows, stay in a green zone.

The cryptocurrency market stopped thee decline and attempted a recovery ahead of the weekend. Bitcoin and all major altcoins clawed back some ground, however, the upside momentum has yet to gain traction. The total market capitalization of all digital assets in circulation increased to $271 billion;  an average daily trading volumes settled at $66 billion, while Bitcoin's market dominance edged higher to 67.7%. 

What’s going on in the market 

The SEC chairman Jay Clayton and four other commissioners are expected to participate at the hearing about Facebook's Libra on Tuesday.

Read more: The US Congress sets hearing with SEC on September 24: Libra to take center stage

Top-3 coins  price overview 

At the time of writing, BTC/USD has recovered above the critical $10,000 to trade at $10,190 by the time of writing. The coin gained about 3.3% in recent 24 hours and reached $10,300 during early Asian hours.  However, the upside momentum has faded away and the price resumed the decline. 

Ethereum, the second-largest digital asset with the current market capitalization of $23.5 billion has been growing strongly in recent days. The coin has gained nearly 6% in recent 24 hours to trade at $217.67 by press time. ETH/USD has retrerated from the intraday high of $222.39. At the time of writing, ETH is moving within a short-tterm bearish trend moving out of the overbought territory.  

Ripple's XRP settled below critical $0.30 amid strong technical correction from the recent high of $0.3127. The coin has lost 3% since the beginning of the day and stayed unchanged in recent 24 hours. 

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