Market Wrap: Ether Outperforms Bitcoin as Traders Look to Altcoins

Posted on by American Coins & Gold

Market Wrap: Ether Outperforms Bitcoin as Traders Look to Altcoins
Cryptocurrencies were mostly higher on Thursday as some traders appear to be rotating into tokens that have underperformed over the past month. Bitcoin was roughly flat over the past 24 hours, compared with a 7% jump for ether over the same period.“Direction-wise for BTC, we find ourselves with a bullish bias but unable to form a strong bullish conviction in spite of the clear optimism in the market,” crypto trading firm QCP Capital wrote in an announcement on Telegram.Despite BTC’s recent outperformance, QCP mentioned that it is “extremely excited” about the new growth phase in the decentralized finance (DeFi) market.…