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Crypto Shares Rally as Bitcoin Rises to $70,206

Reuters05-21

(Reuters) - Bitcoin rose to $70,206 at 20:03 GMT on Monday, adding $3,931 to its previous close. The world's biggest and best-known cryptocurrency is up 82.3% from the year's low of $38,505 on Jan. 23.

Crypto shares rallied on Monday. Bit Digital rose 21.66%; Canaan rose 16%; Marathon Digital, CleanSpark rose over 14%; The9 rose 10%; MicroStrategy, Riot Platforms rose about 9%.

Ether, the coin linked to the ethereum blockchain network, rose 13.3% on Monday to $3500.

The approval and launch of spot bitcoin exchange-traded funds in the U.S. this year has opened the asset class to new investors and reignited the excitement that evaporated when prices collapsed in the "crypto winter" of 2022.

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Comment1

  • Jo Ker
    ·05-21
    Ethereum has jumped almost 20% during the past 6 hours. All this is due to speculation that an Ether ETF will be approved this week as l have bet on. Before this rumor, market only give 10% approval rate to an ETF but now it has raise to 75% because of the speculation that SEC asked documents from one of the applicants prevailing approval. Anyway, this week is a great opportunity to trade in Bitcoin and Ether as Nvidia earnings is coming up and so is the decision to approve an Ether ETF. There is a great deal of possible upwards momentum as we have seen today. May the market be with you!
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