BTC Reclaims $77,600 as XRP Surges Ahead

Bitcoin's price has recovered to above $77,600 after dipping to a 24-hour low of $76,400 in late U.S. hours on Wednesday.

The largest cryptocurrency rose by around 1.5% over the past 24 hours, while its major competitor XRP led the pack with a gain of almost 3% to reach $1.36.

Bitfinex analysts note that the average cost basis of every active investor on the network is pegged at $76,350, and bitcoin came within $50 of it before buyers stepped in.

The analysts warn of a potential pullback in the coming weeks, citing seasonality, with September historically being a bearish month for BTC.