Weekend Watch: BTC Recorded 6-Week High, ETC Up 45% Weekly Following Vitalik Buterin’s Talk

Bitcoin experienced another surge in the last 24 hours, resulting in a multi-week high of nearly $25,000 Ripple is the largest gainer among the larger-cap alts daily, while Ethereum Classic has surged by nearly 50% weekly since Buterin’s last speech.

Bitcoin nears $25K

The week began with bearish signs, and bitcoin dropped from $22,000 to $21,000 within hours. The US Federal Reserve announced that it would raise interest rates by 75 basis points in the middle part of the week, causing more volatility.

This time, however, cryptocurrency gained value quickly and soared to above $23,000, unlike previous examples. More bullish price movements were witnessed when President Joe Biden stated that the US had not entered a recession despite two consecutive quarters of negative numbers.

BTC soared to $24,500 Friday, regardless of whether the reassurance was true or not. It began with a $1,000 retracement, calmer price movements, and then a sudden surge earlier today that drove bitcoin up to just over $24,500. This was the highest level the asset had seen since June 13.

Bitcoin trades at $1,000 less, but its market capital remains above $450 billion.

BTCUSD. Source: TradingView

ETC Soars Weekly

Altcoins saw short-term gains over the last 24 hours, but they have now retraced their losses and are more calm.

Ethereum is currently at $1,700 and slightly in the red daily. A minor daily decline has been seen in Polkadot as well. BNB, ADA and Dogecoin have all shown insignificant gains, while MATIC, Shiba Inu and Avalanche have posted small gains.

Ripple and Solana have seen the largest gains from the larger-cap alts. SOL has increased by 3.5% to trade just shy of $44, while Ripple has seen a 6% increase in XRP and is now close to $0.4.

Filecoin is the star of the show among the alts with lower and mid-cap sizes. It has a huge 17% daily surge.

Ethereum Classic has surged by 45% per week after Vitalik Buterin suggested PoW-lovers could move to the ETC network following Ethereum’s PoS transition.

Cryptocurrency Market Overview. Source: Quantify Crypto
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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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