Daily Times

Bitcoin extended its recovery to over $19,000 in European hours Monday after a weekend that saw major cryptocurrencies put up only moderate gains. Ether (ETH) rose 5pc in the past 24 hours to trade above $1,100. Solana’s SOL and Cardano’s ADA each added about 4pc, while XRP and BNB gained over 3.5pc. Market capitalization increased some 2.3pc, CoinGecko data showed. Among smaller tokens, avalanche’s AVAX and tron’s TRX gained over 8pc, while gains among other cryptocurrencies ranged from 2pc to 5pc. Thorchain’s RUNE added as much as 15pc, continuing a run since last month’s mainnet launch. The Fed’s outlook, and declining equity markets, have weighed into crypto prices this year alongside systemic risks from within the market. Bitcoin has lost 57pc since the start of this year while the S&P500 has lost nearly 20pc in the same period. “Overall caution is still the name of the game,” Susannah Streeter, a markets analyst at Hargreaves Lansdown, told CoinDesk in an email. “Investors nurse wounds from a bruising first half of the year.”