Cryptos have pared back some of yesterday’s gains after Amazon denied it had specific plans to accept Bitcoin as a payment method by the end of the year, but the losses haven’t been dramatic.

At 4.45pm AEST, BTC was down 4.5 per cent to US$37,252. Excepting yesterday, that’s still its highest level since June 18.

BTC rose about 12 per cent yesterday following the report by London business newspaper City A.M., which cited an anonymous “insider”.

“Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true,” an Amazon spokesperson told Reuters.

“We remain focused on exploring what this could look like for customers shopping on Amazon.”

The company last week posted a job opening for a digital currency and blockchain lead, prompting speculation about the e-commerce giant’s plans for the space.

Technical analysts could point to Bitcoin’s rebounding from a daily low of US$36,500 at 2.10pm as a sign that the positive momentum would continue. The crypto had managed to flip that previous resistance level into support, it seemed.

Total crypto market down 3.9%

Overall the crypto market was down 3.9 per cent from Monday to US$1.47 trillion.

Ethereum was changing hands at US$2,200, down 5.7 per cent from yesterday.

Just eight of the top 100 cryptos were in the green, with the best performer being SwissBorg. The token powering a Swiss investment platform was up 5.9 per cent.

The Internet Computer token was the worst performer in the top 100, falling 16.3 per cent to US$39.15. Telcoin, Zilliqa and Near Protocol were close behind.

The Axie Infinity gaining token, which was been red-hot this month, was up 1.0 per cent to US$39.56. It’s now a top 50 crypto – No. 44, to be exact.

A month ago Axie was the No. 232 coin and was trading at US$3.72.

crypto heat map