This surge has caused Bitcoin’s monthly candle to turn positive, presenting a positive outlook for both investors and market observers.
Ethereum didn’t lag far behind, displaying a gain of 2.39% so far today and setting its trading price at $1,778.46.25.
The cryptocurrency market has been experiencing an optimistic streak since last week, adding to its momentum. A key proponent of this positivity is BlackRock, the world’s largest asset manager.
The timing of this move is interesting in that it came shortly after the Securities and Exchange Commission (SEC) lodged lawsuits against two formidable crypto exchanges, Binance and Coinbase.
Market observers continue to deliberate over this timing of BlackRock’s move, primarily due to their crypto custody alliance with Coinbase.