Ether Gains 7% While Dogecoin Surges Over 5% in Crypto Market Rise
Ether gained 7% in the last 24 hours, supported by Bitcoin's rise to over $109,000. Other cryptocurrencies also saw gains: Dogecoin increased by over 5% to around 19 cents, and Cardano’s ADA rose more than 5% as risk appetite returned. The overall market capitalization improved by over 3%, with the CoinDesk 20 index up by 4%.
This rebound comes as traders assess recent US-China trade developments and prepare for key inflation data this week, which may influence interest rates.
- Bitcoin’s rise is attributed to renewed bullish sentiment following resumed US-China trade talks and SEC approval of new crypto ETFs.
- Market reactions to previous events may have been exaggerated, according to industry leaders.
- The upcoming CPI data could significantly impact price movements.
- Current investment options include ETFs, corporate treasuries, and stablecoin issuers, suggesting a nuanced market cycle.
- Bitcoin's performance reinforces its position as a macro asset class, attracting mainstream investors through ETF momentum.