Good news for the main cryptocurrencies in a bullish day

lupafilotaxia (74)in Project HOPE • 11 months ago

Here I go again with good news for the cryptocurrency market that has been showing an extraordinary recovery behavior in the price action in the main cryptocurrencies by market capitalization and where ETH is among the cryptocurrencies leading the rise over 0.5% in the last 24 hours.

Now, among the excellent news for the cryptocurrency market will recover was after the President of the United States and the Speaker of the House of Representatives, Kevin McCarthy, reached a preliminary agreement to raise the debt ceiling.

In this sense and according to information disclosed in the "Cronista" portal, the publication of the latest U.S. personal consumption data, which turned out to be higher than expected, was also favorable for the mood of cryptocurrency investors.

It has also been noted, that while last week was turbulent for the market's largest cryptocurrency, today Bitcoin (BTC) is painted in green and inching ever closer to $28,000.

On the other hand, ETH the second most relevant cryptocurrency on the market trades at $1,902, up 3.1% in 24 hours. In the last 7 days, on the other hand, the token accumulates a rise of 4.7%.

In attention to data revealed on the Coinmarketcap portal, ETH trading volume rose by 73% compared to yesterday, while its market capitalization rose by 3%.

From my perspective, the fact that positive scenarios are unfolding such as reaching a preliminary agreement to raise the debt ceiling in the US is a favorable sign that may mark a recovery of the cryptocurrency market that could even push BTC above the $30,000 level.