Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

Seeking Alpha 2022-04-28 18:53:53

Bitcoin, Ether climb as stocks rally in the midst of earnings season

Bitcoin (BTC-USD), Ethereum (ETH-USD) and other major cryptocurrencies are rising in Thursday afternoon trading as U.S. stock market investors jump back to risk-on mode amid a flush of corporate earnings releases. After reaching as low as $37.6K on April 26, bitcoin (BTC-USD +3.6%) has since grinded back up to $40.2K at the time of writing, and ethereum (ETH-USD +4.3%) is also climbing to $2.97K. Overall, Bitcoin (BTC-USD) is still off around 40% from its all-time high of $67.5K in mid-November, though "I remain cautiously optimistic, as many metrics suggest we are in an accumulation phase,” said GlobalBlock analyst Marcus Sotiriou, as quoted by Barron's. He added that "whale" holdings, or the holdings of large crypto hodlers, has "risen to its highest since September last year." When whale holdings increased in Sept. 2021, "it led to a significant increase in price in November." Bitcoin's (BTC-USD) relationship with equities has been proven to be

freebitcoin
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.