Bitcoin Above $7,000 as Positive Momentum Continues Following Yesterday's Market Upswing

Crypto markets are largely continuing to build on a major upswing that kicked off yesterday, July 16, according to Coin360 data, with virtually all of the top ten coins by market cap in the green.Ongoing positive momentum now looks set to reverse the major valuation losses incurred last week, which could now prove to have been a temporary dip rather than a lasting downtrend.

Bitcoin (BTC) is trading around $7,209, up a little over 8 percent over the 24-hour period to press time. The leading cryptocurrency has today pushed further beyond yesterday’s peak trading price of $6,679, with the day’s upwards spike continuing at press time.

Bitcoin has now brought its weekly and monthly gains into net positive territory, which are at around 6 and 2 percent respectively. The coin has now outstripped its outstanding rally on July 8 when the coin hit almost $6,800.Top altcoin Ethereum (ETH) is trading around $494 to press time, up almost 4 percent over the past 24 hours to press time. While the coin’s strong growth yesterday has secured a positive weekly percentage gain of a strong 8 percent, Ethereum’s monthly performance is still almost 6 percent in the negative.