Cryptocurrencies rebound with risk assets, but ether still lower for the week
Publishing timestamp: 2024-07-26 11:33:56
Summary
Crypto prices rose on Friday after two down days, with Bitcoin and Ether seeing gains. Tech stocks rallied, with Coinbase and MicroStrategy jumping. Bitcoin spiked after inflation data, and investors are anticipating favorable comments on crypto from Donald Trump at a conference. However, Bitcoin is little changed for the week, while Ether is on pace for an 8% loss. The market is also affected by ongoing Mt. Gox repayments and outflows from the Grayscale Ethereum Trust. Kamala Harris entering the U.S. presidential election could impact crypto, and investors believe Ether ETFs may not have the same impact as Bitcoin funds. Data shows that Bitcoin could be heading for a correction, but investor demand is returning despite stagnant prices.
Sentiment: MIXED
Tickers: COIN, BTC.CM=, MSTR, ETH.CM=,
Keywords: bitcoin, microstrategy inc, cryptocurrency, business news, markets, technology, breaking news: investing, bitcoin/usd coin metrics, coinbase global inc, breaking news: markets, investment strategy, ethereum/usd coin metrics, donald trump,
Source: https://www.cnbc.com/2024/07/26/crypto-market-today.html