Cryptocurrencies resumed their rally on Friday, climbing above the $26,000 for the second time this week.
Highlights
- Bitcoin ended higher by 7.46% at $26,868.39, according to Coin Metrics.
- Ether rose 3.87% to $1,745.57.
- For the week, it ended up 22.88%, its best weekly gain since August 2021.
- Bitcoin’s price moves are still heavily influenced by inflation and Federal Reserve rate hikes.
- Many have suggested bitcoin is undergoing a narrative shift among the banking crisis.
- Analysts say two consecutive closes above $25,200 — this coming Sunday and the next — could be signal a bullish long-term development forming.
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