Bitcoin has bounced back to above $58,000, driven by strong US Producer Price Index (PPI) data and a rebound in major US stock market indices. The correlation between Bitcoin and the Nasdaq remains evident, with BTC closely mirroring the movements of tech-heavy stock indices.
Altcoins show resilience
Altcoins are also showing positive momentum, with many experiencing notable rebounds alongside Bitcoin. The overall sentiment in the altcoin market remains cautiously optimistic.
Grayscale launches XRP Trust, eyes ETF
In a significant development, Grayscale has launched an XRP Trust, further solidifying the case for a potential Ripple-based ETF in the future. This move signals growing institutional interest in XRP and could be a precursor to further mainstream adoption.
