Bitcoin, Ethereum Gain Following Economic Data; Stacks Emerges As Top Gainer
Portfolio Pulse from Lisa Levin
Bitcoin and Ethereum prices rose following the release of US economic data, with Stacks emerging as the top gainer. The US trade deficit increased to a six-month high of $74.6 billion in April, while the global crypto market cap rose to $1.12 trillion.
June 07, 2023 | 1:31 pm
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POSITIVE IMPACT
Bitcoin price rose above $26,000 following the release of US economic data.
The increase in the US trade deficit and the rise in the global crypto market cap have positively impacted Bitcoin's price, pushing it above the $26,000 level.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Ethereum price traded above the key $1,800 mark following the release of US economic data.
The increase in the US trade deficit and the rise in the global crypto market cap have positively impacted Ethereum's price, pushing it above the $1,800 level.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Stacks emerged as the top gainer, with its price increasing by 15.9% over the past 24 hours.
Stacks has outperformed other cryptocurrencies in the past 24 hours, making it the top gainer. This could attract more investors and further increase its price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100