On October 1, the cryptocurrency market experienced a 9.5% pump that drove (BTC) and Ether (ETH) at their highest levels in 12 days. A variety of the reasons were attributed to price movements, including the US consumer price index, declining stock market supply, and a bullish “cup and handle” continuation chart formation.
Traders are unlikely to find an explanation for this sudden move, except for those investors who regain confidence after the September 19 drop was attributed to contagion fears from China-based real estate developer Evergrande.
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