Cryptocurrencies Gain Momentum, Bitcoin Surges 7.70% In Past 5 Days

In the last 10 days, the cryptocurrencies have been marginally up, after being bearish for a long time. On July 9, till 5.49 pm UTC, Bitcoin was quoted at US$ 21,821.50 surging by 1.11%. The said crypto coin has also gained 7.96% in the last 5 days. Yesterday, the asset closed at US$ 21,780.80. Following the same trend, apart from Ether other crypto coins have also surged. Ether was quoted at US$ 1,226.26, falling by 0.039%. Yesterday, the asset closed at US$ 1,226.74. Litecoin was quoted at US$ 53.12, gaining sharply by 3.53%, Dogecoin was quoted at US$ 0.0698 gaining by 0.020%, and Cardano was quoted at US$ 0.4807 gaining by 2.39% today.

The crypto market has been bullish for the time being. Commenting on the gain, WazirX Trade Desk stated, "Bitcoin crossed the $22,000 level last day for the first time in 3 weeks as the traditional as well as the crypto markets responded positively to the reassurance given by the U.S. Federal Reserve that the concern regarding recession is blown out of proportion. The BTC market sentiment also moved in the favourable direction, reaching 20 on the Fear & Greed index, the highest in 2 months." At the end of June, the crypto markets have been sharply bearish, however, the assets revived gaining momentum, as the US equities markets also remained bullish.