From Investing.com: 2024-07-10 02:01:00

Bitcoin price rose on Wednesday, reaching $58,870.5, attracting bargain buyers amid ongoing concerns over increased supply from Mt Gox and the German government. Ether also rose, awaiting a crucial decision on a spot exchange-traded fund from the SEC. Crypto market sentiment remained shaky despite recent gains.

Bitcoin’s recent recovery was attributed to bargain buying, with investors showing interest in crypto investment products like Bitcoin ETFs. However, uncertainty loomed over Mt Gox’s distribution of $9 billion in Bitcoin and the German government’s sale of confiscated Bitcoin, impacting market sentiment negatively.

Ether gained 1.2% to $3,106.66, following Bitcoin’s lead and anticipating the SEC’s approval for a spot Ether ETF by mid-July. Altcoins like also saw gains, with expectations of increased institutional capital inflows. Memecoins like and also saw positive movements amidst the overall market recovery.

Read more at Investing.com: recovers to $59k as Mt Gox losses draw bargain buying By Investing.com