Despite some fears that Bitcoin and the US stock futures could drop following US President Trump’s hospitalization, the markets have remained calm. In fact, BTC and some altcoins have marked minor gains, and the market cap has increased by about $6 billion in a day.
Trump Hospital Release And Stimulus Affect Bitcoin?
As reported yesterday, the primary cryptocurrency had remained calm over the weekend. Nevertheless, President Trump’s hospitalization on late Friday, after Wall Street closed for trading, raised some concerns that when the stock futures opened on Sunday, all markets could head south.
However, such a scenario hasn’t materialized yet. The US stock futures opened for trading hours ago, but there’s no volatility in either direction.
The situation has changed after Trump’s doctors claimed that he’s “doing well” and could be discharged later today. Moreover, the circulating reports for fresh economic stimulus could actually drive the prices upwards as it happened before.
The increased correlation between Bitcoin and Wall Street could prompt gains for the cryptocurrency. In the past 24 hours, BTC has already started rising slightly.
Bitcoin broke out from yesterday’s range between $10,500 and $10,600 and topped at $10,750 a few hours ago. Since then, the asset has decreased slightly to $10,670, but it’s still 1% up on a 24-hour scale.
Altcoins Follow Along
Most alternative coins are in the green today. Ethereum has jumped by 1.5% and trades above $350. Ripple is the most significant gainer from the top 10. After a 7% surge, XRP has neared $0.25
Binance Coin (2.5%), Bitcoin Cash (1%), Polkadot (3%), Chainlink (3%), Cardano (5%), and Crypto.com Coin (1.2%) have also increased in value since yesterday.
The most impressive gainer for the third day in a row is PumaPay (11%). PMA has found a place among the top 100 and trades above $0.002. Celsius (11%) and Zilliqa (10%) are the other representatives of the double-digit price increase club.
In contrast, UMA has dropped by 9.5%, Energy Web Token by 8%, and Ampleforth by 7.5%. Despite those losses, the total market cap has increased from $334 to $340 billion.
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.