Cryptocurrency market update: Bitcoin (BTC) makes its way above $10,000, no follow-through as yet
- Bitcoin and major altcoins are range-bound after a short-lived recovery.
- We need a follow-through to confirm the recovery.
The cryptocurrency market managed to recover from the recent slump. Bitcoin (BTC) and all major altcoins are in a green zone, showing gains from 2% to 11% with EOS being the best-performing con out of top-20.
The total capitalization of all digital assets in circulation increased to $278 billion from $266 billion this time on Wednesday. The total trading volume is registered at $59 billion, unchanged from this time on Wednesday. Bitcoin's market share has reduced to 64.7%.
Top-4 coins price overview
Bitcoin (BTC/USD) touched the intraday high at $10,185 and retreated to $10,090 by the time of writing. Despite the recovery, the upside momentum remains weak, while BTC/USD is balancing on the verge of critical $10,000. We need to see a follow-through; otherwise, bears will regain control over the market.
Ethereum, the second-largest digital asset with the current market capitalization of $23.7 billion, has gained nearly 8% on a day-on-day basis and 3% since the start of the Asian session on Thursday. ETH/USD tested area above $225.00 before retreating to $222.30 by press time. The coin is moving in sync with the market.
Ripple's XRP is a slow mover today. The coin has settled above $0.3100, though the further upside seems to be limited so far. Ripple's current market capitalization is registered at $13.6 billion, while an average daily trading volume has increased to at $1.3 billion. The coin has gained over 3% on a day-on-day basis and stayed unchanged since the beginning of Thursday.
Litecoin (LTC/USD) attempted to a move above $96.00, but failed to hold the ground and retreated to $94.30 by the time of writing. The fourth-largest coin with the current market capitalization of $5.9 billion has gained 6% on a day-on-day basis.
Author
Tanya Abrosimova
Independent Analyst
