Cardano Pumps 16%, Bitcoin Could Pop to $100K After Fed Rate Cut
Majors cryptocurrencies are surging as a bullish backdrop gives traders reason to set a $100,000 price target for BTC in the near term.
Binary trading platforms with better performance and payouts
Market Wrap
Majors cryptocurrencies are surging as a bullish backdrop gives traders reason to set a $100,000 price target for BTC in the near term.
Bitcoin just made a new all-time high, but ether is the real winner here.
Crypto exchange Coinbase’s shares closed the day 31% higher, leading gains among digital asset-related stocks.
The worst case scenario for risk assets including cryptocurrencies would be a delayed or contested election where the result is unknown for weeks, one observer noted.
The final stretch of the U.S. presidential election is keeping traders on their toes, with BTC and Trump Polymarket odds taking a small hit.
Crypto-linked stocks such as MicroStrategy, Coinbase, Robinhood and bitcoin miners MARA, RIOT also suffered sizable declines.
The largest crypto has extended its year-to-date gain to nearly 75% and has more than doubled from year-ago levels.
Bitcoin’s “bullish setup” into the U.S. election next week mirrors late 2020, which preceded a 120% rally in two months, Matthew Sigel of VanEck said.
Bitcoin appeared poised to make another run at $70,000, but a WSJ story of a criminal probe into the stablecoin issuer sent prices tumbling Friday afternoon.
Bitcoin Cash and Uniswap led CoinDesk 20 gains, each rising more than 5%.