Bitcoin and other top 10 non-stablecoin cryptocurrencies experienced a surge in trading, with Bitcoin rising above US$28,000 and Ethereum reclaiming the US$1,900 resistance level.
The increase in cryptocurrency trading followed an agreement between President Joe Biden and House Speaker Kevin McCarthy to raise the US debt ceiling, which boosted investors' appetite for risk assets. U.S. equity futures also rose, with positive sentiment following the in-principle agreement on U.S. debt talks.
The total market cap for cryptocurrencies rose 3.00% to US$1.17 trillion, with Neo, the token supporting China-affiliated Neo blockchain, seeing the largest weekly gain in the top 100 cryptocurrencies.
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