Why Bitcoin Cash, Mantle, and Bittensor Are Surging Today
The crypto market as a whole is seeing a nice move higher in today's session, with a 4% move to the upside over the past 24 hours. However, as of 2:45 p.m. ET, three key tokens are seeing outsized moves and are leading the charge higher. Bitcoin Cash (CRYPTO: BCH), Mantle (CRYPTO: MNT), and Bittensor (CRYPTO: TAO) are 11.6%, 12.6%, and 8.7% higher, respectively, over the past day.
These moves are driven by improved sentiment in the crypto sector, as a number of macro and token-specific catalysts take hold today.
On the macro front, a lower U.S. dollar has investors shaking off the effects of continued strength in the key currency benchmark Bitcoin (CRYPTO: BTC) that the entire crypto sector is gauged against. A higher U.S. dollar had continued to put pressure on most cryptocurrencies in recent weeks, as rate-cut bets were pushed out amid strong economic data. With recent commentary from Federal Reserve chair Jerome Powell suggesting rate cuts are on the table (at some point this year), the market appears to be pulling back in terms of its bearish bets on long-duration assets.
Source Fool.com
