Bitcoin Money worth hits 1-year excessive after BCH surges 72%

• The value of Bitcoin Money jumped to a one-year excessive as we speak, with BCH hitting $194, up 72% on the week.
• BCH worth rallied as institutional-driven crypto sentiment boosted Bitcoin (BTC) above $31,000.
• Bitcoin Money sentiment additionally rose after BCH was listed on Citadel-backed cryptocurrency alternate EDX Markets.

Bitcoin Money rose to a twelve-month excessive after surging greater than 40% in 24 hours to hit $194 on Coinbase.

As CoinJournal highlighted right here , the worth of Bitcoin Money jumped to a 3-month excessive on Wednesday.

Why is the worth of Bitcoin Money going up?

BCH has rallied 72% over the previous seven days, buying and selling at costs final seen in early June final yr. It was then that crypto winter and market contagion pushed it down from its June 1 excessive of $210. to $103 by the tip of the month.

The Bitcoin fork cryptocurrency fell to $89 in November because the FTX explosion catalyzed large crypto losses.

Nonetheless, rising in 2023 the start pale when BCH/USD traded round $154 in February. This week’s break above the technical bearish line coincided with a broader rally within the cryptocurrency market, fueled by information of BlackRock’s submitting for an on the spot Bitcoin ETF. Right now, the worth of Bitcoin reached $31,450, the very best worth since 2022. in June

Whereas BTC is up 85% year-to-date, Bitcoin Money is barely greater at 90% YTD.

BCH futures have soared since then, gaining 79% previously 24 hours. Bitcoin Money was one in all 4 cash listed on EDX Markets after it was newly launched, together with Bitcoin, Ethereum and Litecoin.

Launched this week, EDX Markets is backed by a few of Wall Road’s largest monetary funding corporations — Charles Schwab, Constancy Investments and Citadel.

Based on knowledge from Coinglass, open curiosity in BCH on Friday, June 23 at 3 p.m. ET was larger than 200 million. USD. That is the very best fee since 2022. of March