Bitcoin was struggling to hold some gains on Friday. All eyes are set on India's G-20 presidency, where crypto regulations are likely to be discussed. Just banning cryptocurrency won't eliminate its risks, a joint policy roadmap published by global standard setters Thursday said. A joint policy paper on crypto published by the IMF and FSB warned jurisdictions against implementing blanket bans to mitigate risks associated with the sector, and recommended targeted restrictions and sound monetary policy instead. Targeted restrictions might come in handy for emerging economies in particular, it said. Bitcoin posted smart gains on Friday as the largest crypto token rose more than 2 per cent to regain $26,300-levels. Its largest peer, Ethereum, also moved about a per cent up to hover around $1,650-mark. Price action in the altcoins remained on the positive lines with mild gains. Bitcoin's value is currently trading around the $26,200 level. This positive price movement might be because of a paper that came out yesterday from the IMF and the G20’s Financial Stability Board, said Edul Patel, CEO & Co-Founder at Mudrex. "The paper said that banning all cryptocurrencies wouldn't work well in the long term and suggested using targeted restrictions and a comprehensive monetary strategy instead. Ethereum, on the other hand, is trading above the $1600 level," he said. Barring a few exceptions, all top crypto tokens were trading slightly higher on Friday. However, the gains were capped. Other than Bitcoin, Solana gained about 2 per cent. BNB, Polkadot and Litecoin added about a per cent each. Among the losers, Toncoin and Polygon shed about 2 per cent. The global cryptocurrency market cap was trading significantly higher, rising to $1.05 trillion-mark, as it gained more than one per cent in the last 24 hours. However, the total trading volumes dropped as much as 7 per cent to $24.98 billion. The crypto market has picked up for the second consecutive day. The fear and greed index also jumped 5 points since yesterday and is currently in the fear zone with a score of 46/100. Most of the top 10 cryptos by market capitalization are trading in the green, said Parth Chaturvedi, Investments Lead at CoinSwitch Ventures. "The investor sentiment seems to have been slightly boosted after news about JPMorgan exploring a blockchain-based payment and settlement system," he added. "The much-awaited synthesis paper that has been jointly prepared by FSB and IMF was published for the public yesterday, which underlines the importance of a global regulatory framework." Image: Crypto-chart-priceTech View by Giottus Crypto Platform Ethereum is currently attempting a rebound after failing to break the $1,675 resistance level.After recording short-term gains last month, the asset has declined 9.2% since mid-August.The price action has been registering short line candles in the daily chart, indicating that ETH will continue moving sideways in medium term. Image: Chart-ETH The asset is currently trading below its 20-day moving average of $1,670 which acts as an immediate resistance level.Its RSI reading is currently at 40, slightly in oversold territory.If ETH is unable to break through the $1,700 barrier this week, the price may consolidate around $1,650 levels for a while. Major Levels: Support: $1,625,$1,585 Resistance: $1,670, $1,700, $1,735(Views and recommendations given in this section are the analysts' own and do not represent those of Business Today. Please consult your financial adviser before taking any position in the asset/s mentioned.)