Bitcoin has started the day in a positive mood. At press time, the largest cryptocurrency by market cap is trading at $54,674.78 (+3.58%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has risen to $2,550.21 (+2.75%), while XRP has jumped by 17.74% and is now trading at $1.4.
FxPro's team of analysts say:
"Bitcoin has added 4.5% over the past day and is currently trading at around $54,700. It looks like the reference crypto has been able to hold its ground due to the rally in the traditional market. The S&P 500 index has reached a new high, and the whole cryptocurrency market seems to be following suit.
The news JPMorgan clients will have access to BTC investments already this summer has also positively affected the market. This development has an image impact on the crypto market, as back in 2017 JPMorgan's CEO threatened to fire any employee caught trading cryptos.
BTC may now receive momentum from these types of 'image' events as the asset is accepted by more and more participants in the traditional market. In addition, news of BTC being incorporated as a means of payment in various systems may have an obvious positive impact. In this context, the total capitalization of cryptocurrencies has once again surpassed $2 trillion, while the capitalization of Bitcoin has surpassed $1 trillion."
According to CoinMarketCap’s ranking, 9 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $2,054,640,419,958.
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