Bitcoin Enjoys Bullish Moment As Weekly Gains Of 11% Push Digital Asset Beyond $30K
Portfolio Pulse from Khyathi Dalal
Bitcoin (BTC) has seen a trading volume increase of 36% to $17.6 billion in the past 24 hours, and an expansion of 2.5% in its market cap. Other cryptocurrencies such as Ethereum (ETH), XRP, and Dogecoin (DOGE) also saw gains of 5-8%. The crypto market is seen to be protected against the headwinds of higher bond yields that have pressured the broader SPX and DJIA. The likely approval of a Spot Bitcoin ETF is seen as a positive development for Bitcoin.
October 23, 2023 | 1:24 pm
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POSITIVE IMPACT
Bitcoin's trading volume and market cap have increased, and the likely approval of a Spot Bitcoin ETF is seen as a positive development.
The increase in trading volume and market cap, along with the potential approval of a Spot Bitcoin ETF, are all positive indicators for Bitcoin.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Dogecoin has seen gains in the range of 5-8%.
The gains seen by Dogecoin are a positive indicator for the cryptocurrency.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Ethereum has seen gains in the range of 5-8%.
The gains seen by Ethereum are a positive indicator for the cryptocurrency.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
XRP has seen gains in the range of 5-8%.
The gains seen by XRP are a positive indicator for the cryptocurrency.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50