BTC gains nearly 6% over 24h to around $30,600. The easing of health restrictions related to Covid 19 in China would increase investors’ appetite for risky assets.
Bitcoin (BTC) achieved its best performance in 15 days in the past 24 hours, surpassing $30,500 earlier this morning.
The push for the market’s first cryptocurrency comes as China eased Covid-19 health restrictions in certain areas of Beijing, considered low-risk, to allow a return to normal life in the capital. This easing would fuel investor enthusiasm for risky assets, reports Bloomberg.
Over 24 hours, the runner-up Ethereum (ETH) is up 7% to $1,900, according to data provided by Coinmarketcap. The majority of altcoins are in the green. BNB (+5%), SHIB (+11%), SOL (+8%), DOT (+7%) and ADA (+12%), which recorded the biggest gain in the top 20 by capitalization Steps.
The strong correlation between stock markets and digital assets appears to be on the rise again as Bitcoin plunged against the Nasdaq and SP500 on Friday, suggesting investors may be moving away from cryptocurrencies towards other risky assets. .
The Fear & Greed Index, which analyzes the sentiment of traders in the crypto market, is still at its lowest showing “extreme fear” with a score of 10 on Monday.
