Bitcoin returns above $97,000, altcoins in the green
● Bitcoin climbed back above $97,000 as the market registered improving signals for the third day in a row.
● Futures for U.S. stocks were little changed Thursday evening after a turbulent start to the new year.
Dow Jones Industrial Average futures fell 16 points, or 0.04%. S&P 500 and Nasdaq 100 futures fell 0.04% and 0.03%, respectively.
● There are no big catalysts on the economic calendar this week, but traders will be keeping a close eye on the latest ISM manufacturing index data on Friday. Fed officials Thomas Barkin and Mary Daly will also speak.
● Bitcoin surged more than 2.5% yesterday to a local peak of $97,839, its highest level since the sharp pullback on December 26.
●This is also the 3rd consecutive day that the top asset has recorded green as bulls continue to target higher levels.
●After successfully defending the key support area of $91,500, BTC has turned around and is now trading around $97,250.
●Ethereum (ETH) surged nearly 3% yesterday as bulls attempt to push the price above $3,500. ETH broke out of the narrow range in the past 6 days and recorded a local peak of $3,506, which is the highest level since December 26. However, the second largest asset in the market has not been able to successfully stay above the $3,500 mark and is now slightly down to around $3,470.
