Crypto Market Soars as Bitcoin, Ethereum, Dogecoin Rise Despite CFTC Binance Lawsuit: Analyst Claims Sub-$30K Apex Crypto is a Bonus
Major cryptocurrencies saw gains on Tuesday evening as investors digested the implications of the Commodity Futures Trading Commission (CFTC) lawsuit filed against Binance and its founder Changpeng Zhao. At the time of writing, the global crypto market capitalisation was $1.15tn, up 1.99% over the last 24 hours. Bitcoin was up 0.94% and trading at $27,309, while ethereum rose by 3.62% to hit $1,778. Dogecoin rose by 1.76% to $0.073. Conflux, Mask Network and Lido DAO were among the top gainers, up by 17.23%, 18.24% and 14.8%, respectively. Meanwhile, US stocks had a poor trading day on Tuesday, with the S&P 500 and Nasdaq falling by 0.16% and 0.58%, amid concerns over the future of banking in the country. Crypto analyst Justin Bennett said Bitcoin remained stuck in a sideways cycle since the 18th of the month after it tried to break the crucial $26,500 level, potentially exposing it to ranges between $25,200 and $26,860. Kaleo, a pseudonymous analyst, said that the present Bitcoin rally is facing Fear, Uncertainty and Doubt, which are creating dips that present remarkable opportunities to buy.