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CryptoWatch: Bitcoin surrenders early gain as traders key in on support at $7,000

Major cryptocurrencies flirted with important technical support levels on Wednesday after digital assets enjoyed a sharp rally in the prior session.

Bitcoin, the worlds biggest digital currency, remains above the psychologically important $7,000 level but has lost 2.6% compared with level Tuesday at 5 p.m. Eastern Time on the Kraken exchange, with a single BTCUSD, -2.70% coin changing hands at $7,301.35.

After slumping toward $300 billion on Monday, the total value of all cryptocurrencies has rebounded, and was most recently at $320 billion, according to CoinMarketCap.

CoinMarketCap
Cryptocurrency market cap

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