Bitcoin and Ethereum rose for a third day, continuing to pull away from the 18-month lows endured at the end of last week, mirrorng a rebound in wider global markets.
The largest coin by market value rose 5.2% to US$21,098, while Ethereum was up 7.2% at US$1,157.
"Traders have started to believe that the 20K support level was what HODLers (hold on for dear life) have been waiting for as the price is respecting this price level," Naeem Aslam, Avatrade chief market analyst, said.
"The reality is that the BTC bears are only gathering their momentum after pushing the price lower by more than 70% from its all-time high (ATH) and there could be another 10% more on the cards before we actually see the price reaching a real bottom.
"In simple terms, we are still not there, and the BTC price is likely to move a bit more, and a real bottom is likely to be near the 15 to 13K price level as the crypto winter has still too many winter nights left."
European stocks edged higher Tuesday morning and US futures pointed to opening gains as investors dipped back into the markets after the heavy selling of last week.
Nevertheless, Bitcoin and Ethereum are changing hands more than 70% below highs seen in November.
The leading coin dropped below its key support level of US$20,000 last week, while Ethereum fell below the US$900 mark on Sunday.
97 of the top 100 digital currencies were trading in the green on Tuesday morning.
Solana, Avalanche and Chainlink were the biggest climbers of the more known names, up 16%, 13% and 14% respectively.
Further down the pecking order, Aave and Stacks both surged 20%.
The standout riser was Celsius, which was recovering from its collapse after it suspended all withdrawals and transfers due to “extreme market conditions,” which skyrocketed 130% and reaffirmed itself into the top 100.