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Cryptocurrency Bullish: Bitcoin Up By 5.14% In Intraday Trading, Ether Up By 10%

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Global crypto markets are bullish today. In the last one month, this trend has been observed. On July 18, till 6.05 pm UTC, Bitcoin was quoted at US$ 21,858.10 surging by 5.15% in the intra day trading. The asset has been sharply bullish by 15.35% in the last 1 month and surged by 8.11% in the last 5 days. Yesterday, Bitcoin closed at US$ 20,790.20.

 
Cryptocurrency Bullish: Bitcoin Up By 5.14% In Intraday Trading, Ether Up By 10%

Along with Bitcoin, other major crypto coins are also on the verge of gaining. Ether was quoted at US$ 1,470.54, gaining by 9.90%. Yesterday, Ether closed at US$ 1,338.03. Litecoin was quoted at US$ 56.88, gaining sharply by 2.05%, Dogecoin was quoted at US$ 0.0665 gaining by 5.04%, and Cardano was quoted at US$ 0.4783 gaining by 6.88% today, till last traded.

Commenting on the sharp rise in the crypto market, especially about Ether, CoinDesk in a report mentioned, "The negative turn indicates that the premium paid by call buyers in return for protection against upside moves over six months is now greater than the cost paid by put buyers for insurance against bearish moves. The one-week, one- and three-month put-call skews have seen a similar drop below zero, also their first since early January, in a sign of renewed relatively stronger demand for short-term and medium-term bullish bets. The change in sentiment validates ether's ongoing rally, supposedly triggered by developers recently announcing Sept. 19 as a tentative date for the completion of Ethereum's long-awaited transition from the proof-of-work consensus mechanism to the proof-of-stake mechanism."

Read more about: cryptocurrency bitcoin ether
Story first published: Monday, July 18, 2022, 23:48 [IST]
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