As bearish sentiments still loom, the global crypto market is up by 2.24% at 859.23 billion USD. At the time of writing, its market volume has increased by 1.69% and stands at 37.66 billion USD.
Bitcoin’s price has soared by over 2% in the last 24 hours, despite whales still selling. Ethereum has done even better, up by more than 4% in the last 24 hours. ETH, BTC and many other cryptos are correlating with US equities, which experienced a recent surge.
The stock market rally was ignited by data showing a rise in weekly jobless claims, a sign that the pace of interest rate hikes could soon slow. The S&P 500 was up 0.75% to finish at 3,963.51—ending its biggest losing streak since October, while the Dow Jones Industrial Average gained 183.56 points, or 0.55%, to finish at 33,781.48.
Fetch.ai (FET) is the biggest gainer in the last 24 hours by soaring 33.01% - thanks to the release of an upgrade to its mainnet wallet. Terra Classic (LUNC) is up by 5.44%, while Pancake Swap (CAKE) and Shiba Inu (SHIB) are up by 1.77% and 1.35% respectively.