Major coins traded green on Sunday, helped by renewed investor confidence that the Federal Reserve is successfully managing inflation without pushing the economy into recession.
| cryptocurrency | Gains (% in 24 hours) | Price (taken at 8:32 p.m. EST) |
|---|---|---|
| Bitcoin | +2% | $21,118.80 |
| ether | +2.7% | $1,564.75 |
| Dogecoins | +2.4 | $0.08 |
What happened: Bitcoin BTC/USD, ether ETH/USD and other major cryptos continue to rise in weekend trading, recorded at 8:32 p.m. EST.
| Top Gainers (24 hours) | profits | Price |
|---|---|---|
| Frax stock | +26.1% | $8.45 |
| decentralized | +20.2% | $0.70 |
| cello | +19.6% | $0.74 |
Bitcoin has had a remarkable run this year, trading at $21,118 – up a staggering 25% over the year, largely due to its meteoric rise since last Tuesday when it traded just above $17,400. Ether followed a similar pattern to Bitcoin this weekend, surging to a two-month high of $1,550 before falling slightly. ETH was trading at $1,564 at the time of writing.
Meme cryptocurrency Dogecoins DOGE/USD traded at $0.08 and struggled to reach $0.10, up 2.38% in the last 24 hours.
US stock markets will be closed on Monday to celebrate Martin Luther King Jr. Day – a holiday honoring the late distinguished civil rights leader. Before the close of trading on Friday, the most important indices rose slightly. Tech-heavy indices like that Nasdaq and S&P500which has a strong technology component, posted gains of over 5% and 4%, respectively.
See more: Best Crypto Day Trading Strategies
“Unless we hear a strong aggressive pullback from the Fed or if commodity prices rise, crypto traders shouldn’t be surprised if Bitcoin is able to extend its recent gains. The $18,500 level was a critical resistance for bitcoin and if it can stay above that level in the next few sessions, it could rouse some dormant long-term bulls,” he said Edward MoyaSenior Market Analyst at OANDAseen in a note from gasoline ga on Friday.
Crypto Analyst
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