BTC - Why Bitcoin Ethereum and Dogecoin Surged Higher This Week
2023-10-27 14:06:50 ET
What a week it was for mega-cap cryptocurrencies. Three of the most popular digital assets out there, Bitcoin (CRYPTO: BTC) , Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE) , each saw impressive gains. As of 12:45 p.m. ET on Friday, these three top-10 cryptocurrencies by market capitalization rose 14.7%, 10.4% and 15.4%, respectively, over the past seven days.
It shouldn't be surprising for many investors to see Bitcoin lead the market higher, as that's par for the course for this space. With roughly half the market cap of the entire crypto sector, the direction Bitcoin moves on a given week typically determines how other digital assets perform.
Accordingly, one might view this week's news that a spot Bitcoin exchange-traded fund (ETF) could be hitting the market sooner than thought as the rising tide that's lifting all boats. I certainly think there's something to that.
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Why Bitcoin, Ethereum, and Dogecoin Surged Higher This Week