Bitcoin gained 2.58% in Wednesday morning’s deals trading at US$42,813 but was outpaced, slightly, by Ethereum which notched nearly 5% higher to US$3,252.
It's still a long way from being a bull market, but it is holding up after the turmoil of recent weeks as higher-risk digital assets were offloaded amidst regulation fears and the prospect of rising interest rates.
It remains to be seen whether a ‘buy the dip’ trade can take hold, nevertheless, Bitcoin and Ethereum appear to be finding some support.
Bitcoin is still some 35% below the all-time high seen in November, despite bouncing back after spiking briefly below US$40,000 (its lowest level since August) on Monday.
Elsewhere the modest positivity carried across many of the so-called ‘alt-coins’.
BNB, Solana, Cardano, XRP, Terra, and Polkadot, for example, gained a respectable 2.8%, 2.6%, 5.7%, 2.4%, 5.5%, and 8.0% respectively.
Deeper down the pecking order, Avalanche, Polygon, Near Protocol, Algorand, Cosmos, Fantom, and Stellar advanced 6.0%, 8.2%, 12.9%, 6.1%, 6.2%, 21.7%, and 6.9% respectively.
Doggy meme-coin Dogecoin leaped 6.2% to US$0.154, while its closest rival Shiba Inu climbed 5.6% to US$0.0000286.
Overall, most of the cryptos (26 of the top 30) were in the risers category on Wednesday's morning trading, whilst an astonishing 94 of the largest 100 digital coins experienced gains.
Among the losers, Chainlink and Internet Computer slipped 3.6% and 3.5% respectively.