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Bitcoin (BTC-USD) crossed $23k over the weekend for the first time in more than five months, matching gains in broader financial markets, as investors turned their attention to company income in the next week.
The leading cryptocurrency by market cap has been trading consistently above $20k for over a week, eliminating another well-known bankruptcy (Genesis) from which investors emerge for prices in.
Bitcoin (BTC-USD) rose to as high as $23.28K on Saturday. Coins (BTC-USD) rose 1.1% to $23.11K, while ether (ETH-USD) to be 0.7% lower at $1.64K.
The global crypto market cap is now $1.05T, unchanged from Sunday, according to CoinMarketCap.
Bernstein report indicates that the cryptocurrency’s recent gains could be the result of a mean reversion, meaning the price of an asset is back to its average, adding that the mean reversion still has room to grow. run.
The contagion in the crypto space continues, with the Gemini exchange laying off another one 10% of its employees. Gemini, led by billionaire Winklevoss twins, has made at least three job cuts in recent months.
Crypto-related stocks trading in the green include: Silvergate Capital (SI) +19.1%digital bit (BTBT) +13.5%Digital Marathon (MARA) +11.7%Cryptocurrency Mining (CIFR) +10%Riot Platform (THE RURGE OF WOMEN) +6.5 %.
