Major blue-chip cryptocurrencies are trading with a positive bias on Friday despite a lack of trading volumes with US market participants away for the Thanksgiving holidays.
Bitcoin (BTC) briefly hit fresh highs for the year above $38,000 and at current levels around $37,800 is currently trading up around 1.6% in the last 24 hours, as per CoinMarketCap.
“Bitcoin bulls have noted that the cryptocurrency is probing a break above key resistance at $38,000 which could open the door to a swift move above $40,000,” says cryptocurrency analyst John Doe.
Ether (ETH), meanwhile, recovered back to the north of $2,100, up 2.6% in the past 24 hours.
“The bullish bias could reflect optimism that Binance’s recent settlement deal with US authorities removes systemic risk to the market of a potential collapse of the exchange,” states Jane Smith, a cryptocurrency expert. “Additionally, there is ongoing optimism surrounding expected near-term spot Bitcoin ETF approvals and an improving macro backdrop.”
