BTC and other major cryptos continued their late Sunday rally, soaring past $22.8K at one point on Monday amid a mini-revival of investor optimism; DappRadar's valuation model may not be accurate for NFTs. TheSamReynolds and JPRubin23 report
Gold: $1,709 -.08%Bitcoin and other major cryptocurrencies continued their late Sunday rally, soaring past $22,800 at one point in Monday trading amid a mini-revival of investor optimism about the global economy, central bank monetary tightening and theThe largest cryptocurrency by market capitalization was recently trading at about $22,896, up more than 9% over the past 24 hours.
Still, market observers were wary of sounding too upbeat, given the months-long backdrop of rising inflation, central bank uncertainty and the looming prospect of recession. Cryptos tracked the general direction of stocks, which rose early before falling in the afternoon, although major equity indexes finished slightly in the red for the day with the tech-focused Nasdaq and S&P 500 dropping 0.8%. The declines came largely after iPhone and computer manufacturer Apple announced that it would ratchet back spending and hiring.
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