The cryptocurrency market is recouping losses caused by the CFTC lawsuit against Binance and CZ. Ripple’s XRP is now rising for a few days in a row while Bitcoin’s price managed to regain $28,000 and even surge above it.
The entire market is painted green as the majority of cryptocurrencies have seen sizeable gains over the past 24 hours.
Bitcoin price surges above $28,000
The green is back in the cryptocurrency market after a few days of questionable price action caused by the CFTC lawsuit against Binance and CZ.
At the time of writing, BTC is trading above $28,500, having surged about 6% over the past 24 hours. With this move, the cryptocurrency managed to recoup almost all of the losses caused by the CFTC lawsuit.
Source: TradingView
BTC hit a high of $28,650 before retreating slightly to current trading value (on Binance).
Green Painted Altcoins, XRP Leads Rally
XRP is the best performer among major cryptocurrencies today. It is up nearly 20% over the past day and appears to be preparing to target the coveted $0.60 level. At the time of writing, XRP is trading at around $0.57.
Source: Quantify Crypto
As can be seen in the heatmap above, all major coins are trading well in the green today. In the top 100, MASK leads the market with a daily gain of 24.6%. The cryptocurrency thus managed to recoup most of the losses it had posted the previous day. Conflux’s CFX is second, up 21.2%, followed by Kaspa’s KAS, up 20%.
Interestingly, with the exception of Huobi Token (HT), which is down a slight 0.2%, all other cryptocurrencies from the top 100 are in the green today – a very rare phenomenon.
Sentiment in the broader market remains in a period of “greed”, albeit a little more modest compared to yesterday.
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Cryptocurrency charts from TradingView.
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