Both tokens experienced a 3% increase, with bitcoin and ether gaining up to 1.2%, and bnb (BNB) surged by 1%, demonstrating resilience against worries about potential risks spreading within the BNB Chain ecosystem.
Meme coins and low-cap cryptocurrencies continue to be the preferred choices for traders, while investors in Bitcoin eagerly await a prompt ETF decision.
The CEO of SynFutures believes that BTC's recent drop below a crucial price level after a month is merely a short-term anomaly caused by the dynamics of derivatives trading data.
Selling pressure might have emerged due to a revised U.S. bill that excludes various traditional securities from being categorized as 'digital assets,' a development that some believe could have negative implications for the DeFi market.
Numerous meme coins have surged in popularity lately, but this trend is expected to fade away within a few weeks.
K33 Research reveals that the prime time for Bitcoin price gains and trading activity predominantly revolves around the U.S. market hours.
Enhancements in technology and the inclusion of bitcoin cash tokens on the EDX Markets exchange have likely sparked increased trading activity.
Earlier this week, there were claims made about several tokens being classified as securities, which caused traders to potentially adopt a risk-averse approach.
Analysts suggest that the recent boost in risk assets, including cryptocurrencies, due to improved liquidity conditions this year is likely to reverse once the U.S. debt ceiling is lifted and the Treasury, along with the Federal Reserve, resumes their tightening measures.
Investors were eagerly anticipating the House vote on the debt limit deal, which was set to take place on Wednesday.