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As the United States celebrates Independence Day, Bitcoin is enjoying a 4th of July celebration of its own. After hitting $12,000, the leading cryptocurrency is now up 5.63% at $11,838 according to COIN360.
Most of the crypto market is rising with the tide, with Ethereum up 0.99% at $294.70, XRP down 0.81% at $0.3950 and Litecoin up 4.7% at $123.88.
The rally followed the creation of 100 million USDT stablecoins from Tether. Historically, Bitcoin often rises after Tether mints large amounts of tokens and sends them to the crypto exchange Bitfinex.
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Despite accusations, the company says it does not use USDT to manipulate the price of Bitcoin. Kraken CEO Jesse Powell recently said he believes there’s no truth to the rumors.
Fundstrat co-founder and head of research Tom Lee says Bitcoin is at peak FOMO, predicting potential fireworks for BTC in the week ahead.
CoinDesk’s Omkar Godbole says Bitcoin’s short duration charts are looking good, but the bulls are not out of the woods just yet.
Bitcoin
CoinDesk – Bitcoin eyes Independence Day price gains for fifth year running
Blockonomi – BTC/USD could continue its uptrend to $13K
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Ethereum
FXStreet – ETH/USD bulls guided by channel to the north
XRP
NewsBTC – XRP price continues to consolidate
Litecoin
FXStreet – LTC/USD has recovered from recent lows, but upside is limited
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