BTC Surges to $108,600 as JPMorgan Files for Crypto Trademark
Crypto markets experienced an uptick on Monday, shifting focus from geopolitical tensions to institutional developments ahead of the Federal Open Market Committee meeting.
- Bitcoin has risen 3.1% in 24 hours, trading at $108,600, nearing its all-time high.
- The CoinDesk 20 index increased by 4.3%, driven by XRP and Chainlink, both gaining 6-7%.
- Traditional markets showed renewed risk appetite; S&P 500 and Nasdaq rose by 0.9% and 1.4%, respectively.
- Crypto stocks surged: Coinbase gained 7.7% and Circle rose by 13%. Bitcoin miners Bitdeer and Hut 8 increased by 6.9% and 5.6%.
- JPMorgan filed a trademark for digital asset services, while Purpose plans to launch a spot XRP ETF in Canada.
- Nansen analyst Nicolai Søndergaard noted that Bitcoin still leads the market, impacting altcoins' performance.
- Bitfinex analysts pointed out that Bitcoin's rebound could indicate a potential recovery if it holds between $102,000-$103,000.
- Investor attention is on the Federal Reserve’s decisions and comments from Chair Jerome Powell, with expectations of steady benchmark rates.