Bitcoin Breaks $9,300 as US Stock Market Sees Minor Uptrend

Monday, June 17 — most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as bitcoin (BTC) passed the $9,300 mark again.

Market visualization courtesy of Coin360

Bitcoin is currently up about 2.5% on the day, trading around $9,358 at press time, according to Coin360. Looking at its weekly chart, the coin is up around 12.7%.

Bitcoin 7-day price chart. Source: Coin360

Yesterday news broke that the Chicago Mercantile Exchange (CME) Group has released data showing that open interest in Bitcoin futures is rising.

Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at just under $28.5 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $18 billion at press time.

Coin360 data shows that ETH has seen its value increase by a fraction of a percent over the last 24 hours. At press time, ETH is trading around $268. On the week, the coin has also gained over 2.2% of value.

Ether 7-day price chart. Source: Coin360

XRP is down by about three quarters of a percent over the last 24 hours and is currently trading at around $0.428. On the week, the coin is up about 6%.

XRP 7-day price chart. Source: Coin360

Among the top 20 cryptocurrencies, the only other ones who have seen gains are binance coin (BNB), which is about 3.8% up, and monero (XMR), which is about 2.5% up.

At press time, the total market capitalization of all cryptocurrencies is $288.8 billion, nearly 8.8% higher than the value it reported a week ago.

As Cointelegraph reported earlier today, Jerome Powell, the head of the United States Federal Reserve, has said that he recognizes both potential benefits and risks to Facebook’s recently-unveiled Libra cryptocurrency project.

In traditional markets, the United States stock market is seeing slight gains so far today, with the S&P 500 up 0.61% and the Nasdaq up 0.5% at press time. The CBOE Volatility Index (VIX), on the other hand, has gained 4.33% on the day at press time.

Major oil futures and indexes are seeing discreet gains today, with WTI Crude down 1.37%, Brent Crude down 1.37% and Mars US up 0.4% at press time. The OPEC Basket is up 0.82% and the Canadian Crude Index has not seen its value change in the 24 hours by press time, according to OilPrice.