Investing.com – Bitcoin inched higher Tuesday but trading was restricting to a narrow range amid a lack of market-moving data.
Bitcoin rose 0.74% to $7,593.8 on the Bitfinex exchange after bouncing sharply off a session low of $7,372.
Bitcoin traded in a roughly $300 range as investors awaited further catalysts to determine whether the popular crypto would stage another test of $7,800.
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The $7,800 price level was identified last week as the next hurdle in bitcoin's recovery after it rebounded from $7,500 last week.
Subdued demand, however, continues to hamper upside momentum in bitcoin and other cryptocurrencies as fears of regulation remained front and centre following North American regulators' attempts to crackdown on cryptos last month.
The total market cap of cryptocurrencies inched higher to about $344 billion, at the time of writing, from $337 billion Monday.
Ripple XRP rose 1.28% to $0.66852 on the Poloniex exchange, while Ethereum rose 1.33% to $607.43.
Bitcoin Cash rose 1.38% to $1,144.50, while Litecoin rose 0.22% to $120.53.
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