Bitcoin jumps 9% to touch 12-day high
The largest cryptocurrency was last up 7.9% at $47,263, which if maintained would be its largest one-day jump since mid-June.
- Economy
- Reuters
- Published Date: 02:47 | 01 October 2021
- Modified Date: 02:47 | 01 October 2021
Bitcoin extended gains on Friday, climbing over 9% in late morning trade to $47,800, its highest level in 12 days.
The largest cryptocurrency was last up 7.9% at $47,263, which if maintained would be its largest one-day jump since mid-June.
Smaller coins ether and XRP, which tend to move in tandem with bitcoin, were up 7% and 5% respectively.
Joseph Edwards, head of research at Enigma Securities in London, cited spiking volumes on crypto derivatives exchanges as a possible driver for the moves. Derivatives trading often influences spot prices in bitcoin markets.
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