Bitcoin recovers toward $77,300 as zcash leverage unwinds
Bitcoin is showing signs of recovery toward $77,300 as market volatility continues across the cryptocurrency sector. Traditional markets are also trending upward ahead of upcoming US consumer price data and FOMC interest rate decisions.
Why it matters
The correlation between crypto market movements and traditional financial indicators like the S&P 500 and US inflation data remains a critical focus for investors.
Ether ETH $ 2,463.24 rose 1.6% on Friday, and is also higher over 24 hours, one of the few large-cap cryptocurrencies to recover its overnight losses. Solana (SOL) has added just under 1% since midnight.
In the CoinDesk 100, 68 constituents are higher on the day, something of a reversal after Thursday's 86-14 split the other way. The index has added 0.5%, though it remains 1.6% lower over 24 hours and 80 constituents are still down on that higher timeframe.
The memecoin index was the biggest gainer, adding 0.73% since midnight UTC. As with yesterday, the speculative end is moving furthest, though in the opposite direction.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in