Bitcoin and ether climbed modestly late Wednesday as lighter crypto derivatives volumes signaled uncharacteristic caution among the market’s traders.
Bitcoin offshoots were among big winners on CoinDesk’s big board, including bitcoin gold (BTG) up a whopping 18 percent, bitcoin sv (BSV) climbing 16 percent and bitcoin cash (BCH) in the green 6 percent. BCH had its first halving of mining rewards Wednesday and BSV is expected to reach that milestone Friday. All 24-hour price changes are as of 20:50 UTC (4:50 PM EST) Wednesday.
In the traditional markets, Asia’s Nikkei 225 index closed up 2 percent. This continues a week in Japan where unprecedented stimulus amid the declaration of a state of emergency has not stopped markets from going up.
Europe’s FTSE 100 ended the day down slightly, at 0.28 percent. This erased two days of gains as U.K. Prime Minister Boris Johnson remains in intensive care for coronavirus-related health concerns.
In the U.S., the S&P 500 closed New York’s trading day up an ebullient 3.4 percent. The Federal Reserve released minutes of its meeting Wednesday indicating the central bank will keep interest rates near zero in the face of long-term economic uncertainty.
After a drop Tuesday to the $7,000 level right after the U.S. markets closed almost flat, bitcoin jumped to a $7,100 level and is staying steady in a $7,100-$7,400 range.
Gold was down very slightly Wednesday, in the red 0.04 percent – but has been mostly flat the past few days. That sideways performance has traders doubting a breakout will come for gold as they expect for bitcoin.
“Bitcoin in general is much more…