Ether surges 8%, Bitcoin nears $106K as crypto bulls take charge
Crypto markets extended their climb with ether (ETH) jumping 8% and Bitcoin (BTC) inching back toward the $106,000 mark in the past 24 hours, despite broader risk-off sentiment in equities and gold.
The resilience is in contrast to Friday’s surprise credit downgrade of the U.S. by Moody’s, which cited persistent fiscal deficits and political gridlock. Yet while equities sagged and gold extended its recent decline, falling nearly 7% from May highs, bitcoin held ground and even rallied briefly to $107,000 late Sunday before retracing.
“Bitcoin’s ability to rally over the weekend despite a risk-off tone in equities following the Moody’s downgrade reinforces its positioning as a legitimate store of value,” QCP…
