$BTC Crypto markets pushed higher on Monday as traders have shifted focus from geopolitical anxieties to crypto-related institutional developments ahead of the upcoming Federal Open Market Committee’s meeting.
Bitcoin
$108,593.22
has risen 3.1% in the last 24 hours and is now trading for $108,600, only a couple of thousand dollars below its all-time record. It certainly wasn’t alone in its ascension. The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — is up 4.3% in the same period of time, buoyed by strong performances from
$2.30
and chainlink
LINK
$14.06
, which both notched 6-7% gains, and most other tokens rising at least 3%. A check at traditional markets shows that risk appetite has returned after last week's jitters on Israel and Iran launching missiles. The S&P 500 and the Nasdaq indexes bounced 0.9% and 1.4%, while safe haven gold declined 1.5%. Crypto stocks also joined the surge. Coinbase (COIN) and Circle (CRCL) closed the day 7.7% and 13% in the green. Among bitcoin miners, Bitdeer (BTDR) and Hut 8 (HUT) gained 6.9% and 5.6% respectively. Remarkably, one of the only equities in the red was Strategy (MSTR), which lost almost 0.2%, while rival bitcoin treasury companies Metaplanet rose 25% on the Japanese stock market.
Positive crypto-related news added further fuel to today's rally: JPMorgan has filed a trademark application for a product that seeks to offer digital asset services such as trading, exchange, payment services and issuance. Meanwhile, asset manager Purpose is set to launch its spot XRP exchange-traded fund in Canada as momentum for altcoin-focused ETFs grows.#Write2Earn
