This Crypto Left Bitcoin, Ethereum In The Dust With A Whopping 156% Gain In June
Portfolio Pulse from Mehab Qureshi
Bitcoin Cash (CRYPTO: BCH) surged 156% in June, outperforming Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH). This surge was influenced by BlackRock Inc's (NYSE:BLK) application for a Bitcoin spot ETF with the SEC and the launch of EDX Markets. The upward trend was partly fueled by a short squeeze and an unexpected volume spike on the South Korean exchange, Upbit.
July 03, 2023 | 11:21 am
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Bitcoin Cash surged 156% in June, outperforming other leading cryptocurrencies. Influenced by BlackRock's Bitcoin spot ETF application and the launch of EDX Markets.
The surge in Bitcoin Cash's value is directly linked to the news of BlackRock's Bitcoin spot ETF application and the launch of EDX Markets. This has generated a bullish sentiment in the cryptocurrency market, leading to a significant increase in the value of Bitcoin Cash.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
BlackRock's application for a Bitcoin spot ETF with the SEC has generated a bullish sentiment in the cryptocurrency market, influencing the surge in Bitcoin Cash's value.
BlackRock's move to seek SEC approval for a Bitcoin spot ETF has generated a bullish sentiment in the cryptocurrency market. This has had a notable impact on Bitcoin and its related projects, including Bitcoin Cash, leading to a surge in their values.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80