Bitcoin (BTC) Price Rally Reignites Year-End Optimism
The crypto market enjoyed a much-needed boost on Thursday as the two largest tokens rallied, with the bitcoin price rising to $91,700 and ether to $3,030.
The gains followed Wednesday’s strong recovery in equities. That was led by tech stocks like Alphabet (GOOG) and Nvidia (NVDA), with the Nasdaq Composite posting its best four-day streak since May.
Traders remain focused on bitcoin as opposed to lower liquidity altcoins. BTC’s 5.4% gain over the past 24 hours outperformed 18 of the 20 largest crypto tokens by market cap.
This was reflected in CoinMarketCap’s “altcoin season” indicator, which remains at a lowly 22/100, down considerably from October’s high of 67/100.
Derivatives positioning
- Bitcoin’s 30-day…
