Bitcoin Holds Recent Gains Near $5,000 as Stocks Report Minor Uptrend
Most of the top 20 cryptocurrencies are reporting slight to moderate gains as Bitcoin stays just over $5,000.
Market visualization courtesy of Coin360
Bitcoin’s price has seen almost no change on the day, trading at around $5,000 by press time, according to CoinMarketCap. Looking at its weekly chart, the current price is a solid 22% higher than $4,096, the price at which Bitcoin started the week.
Bitcoin 7-day price chart. Source: CoinMarketCap
Data from the Google Trends platform recently revealed that Google searches for “Bitcoin” nearly tripled during the recent price spike.
Ethereum (ETH) is holding onto its position as the largest altcoin by market cap, which is at about $17.3 billion. The second-largest altcoin, Ripple (XRP), has a market cap of about $15 billion by press time.
ETH is also up by over 2.5% over the last 24 hours. At press time, ETH is trading around $164, after having started the day at $162. On its weekly chart, ETH has seen its value increase by about 16%.
Ethereum 7-day price chart. Source: CoinMarketCap
Second-largest altcoin Ripple has gained a solid almost 7% over the 24 hours to press time, and is currently trading at around $0.36. Looking at the coin’s weekly chart, its current price is over 16% higher than the price at which it started the week.
Ripple 7-day price chart. Source: CoinMarketCap
Among the top 20 cryptocurrencies, the one reporting the most notable growth is Tezos (XTZ), which is up nearly ten percent.
The total market cap of all cryptocurrencies is currently equivalent to $174.7 billion, which is almost 22% higher than $143.5 billion, the value it saw one week ago.
As Cointelegraph reported earlier today, United States Commodity Futures Trading Commission Chairman J. Christopher Giancarlo has emphasized the agency’s commitment is to monitor, but not impede, the development of the crypto asset sector.
In traditional markets, the stock market is seeing discreet gains so far today, with the S&P 500 up 0.4% and Nasdaq up 0.55% to press time. The CBOE Volatility Index (VIX), on the other hand, has lost a 4.27% on the day at press time.
Earlier today, CNBC reported that the stocks rose after the release of a jobs report that eased the fear of an economic slowdown in the U.S.
Major oil futures and indexes are showing mixed movements today, with WTI Crude up 0.74%, Brent Crude up 0.59% and Mars US down 0.54% to press time. Opec Basket on the other hand is up by 0.42%, and the Canadian Crude Index has seen its value increase by 0.35%, according to OilPrices.
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