Welcome back to your proactive crypto report with Natalie Stoberman!
Bitcoin remains strong at $30,000 thanks to institutional support from BlackRock's filed Spot Bitcoin ETF and Charles Schwab supporting the newly launched EDX Exchange, which is driving the bullish sentiment. Bitcoin spot prices and buy orders at this range provide significant support for $BTC along with the Bitcoin Futures market also witnessing new upside. Open Interest has reached $10.4 billion, a level reminiscent of 2022 before Crypto Winter.
Ethereum has been following Bitcoin's lead with an eight percent weekly gain, although not as high as $BTC's 14 percent.
However, Litecoin and Bitcoin Cash have been outperforming Bitcoin, with Litecoin experiencing similar gains and growing its market cap as a top form of crypto payments. Meanwhile, Bitcoin Cash has seen a staggering 100 percent monthly gain since the launch of the EDX exchange, supported by big institutional money.
Stay tuned for more Proactive Crypto Reports, and we'll see you again soon!
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