The financial market’s response to the recent US jobs report, which added an astonishing 336,000 new jobs in September, was not limited to just traditional stocks. The cryptocurrency market, a barometer often sensitive to global economic swings, has also demonstrated positive reactions.
Bitcoin (BTC), the most recognized cryptocurrency globally, at the time of publication registered a notable appreciation. Quoted at US$28,044.26, the price of BTC increased by 2.1% in the last 24 hours and 4.4% in the week.
The most interesting thing is that the cryptocurrency is in a consolidation movement above the US$28,000 mark, after a few attempts throughout the week. The global crypto market capitalization is $1.1 trillion, with an increase of 1.76% in the last day.
Not only Bitcoin, but Ethereum (ETH) also followed the upward trend. Quoted at US$1,646.63, ETH recorded growth of 2.1% in the last 24 hours and 1.9% throughout the week. Ethereum, being the second largest cryptocurrency by market capitalization, often follows or even leads trends in the crypto universe.
While Bitcoin and Ethereum attempt to consolidate above their support zones, some other cryptocurrencies have attracted attention for their impressive performances:
- Tokenize Xchange (TKX): This coin is priced at US$5.54 and surprised with an increase of 16.1% in the last 24 hours.
- Avalanche (AVAX): With a value of $10.72, AVAX has seen an increase of 6% in the last 24 hours.
- Render (RNDR): This cryptocurrency is currently priced at US$1.84, registering an appreciation of 5.8% in the last 24 hours.
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.