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Cryptocurrencies rebound with risk assets, but ether still lower for the week - TL;DR CNBC

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: COINBTC.CM=MSTRETH.CM=

Keywords: bitcoinmicrostrategy inccryptocurrencybusiness newsmarketstechnologybreaking news: investingbitcoin/usd coin metricscoinbase global incbreaking news: marketsinvestment strategyethereum/usd coin metricsdonald trump

Source: https://www.cnbc.com/2024/07/26/crypto-market-today.html


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