Crypto market reinvigorated: Bitcoin (BTC) jumps above $6,500 but still lags behind Ripple and Bitcoin Cash stellar rise
- All major coins are growing strongly amid a combination of technical and fundamental factors.
- Bitcoin settles above critical technical level as the market poses for important SEC decision.
The news that the US SEC is about to make a decision about Bitcoin ETF reinvigorated the cryptocurrency market. All to-20 coins (except for Tether) are in the green zone, growing from 0.2% to 10% on a daily basis. The total value of the digital assets jumped to $220B from $213 on Tuesday.
Bitcoin rushed above $6,500 and touched $6,538 handle during early Asian hours before settling down at $6.528 by press time. The world's biggest virtual coin broke an important technical level and gained nearly 2% since this time on Tuesday.
Ethereum is changing hands at $220, gaining 5.8% on a day-on-day basis. The second largest coin with the current market value of $22.5B is moving within a short-term bullish trend amid expanding volatility. The intraday high is reached at $223.
Ripple's XRP had a very successful start of the week. The coin is trading at $0.5385, off the recent high touched at $0.5678 during Tuesday trading. XRP/USD has gained over 18% in recent 7 days to become one of the best-performing coins. On a daily basis, XRP is up 6%.
Bitcoin Cash is a growth leader. BCH/USD has grown 10% in recent 24 hours and touched $636 high during early Asian hours on Wednesday. The fourth largest coin continues pumping ahead of the hard fork scheduled on November 15, which makes it vulnerable to a sharp correction. Currently, BCH/USD is changing hands at $619.
TOP-20 leaders and outsiders of the recent 24 hours
- Bitcoin Cash and Ripple are the growth leaders with 10% and 6% gains respectively.
- Monero and Dash are outsiders with less than 1% gains.
What's going in the crypto universe
Author
Tanya Abrosimova
Independent Analyst
