Bitcoin Hits $65K Shaking Off Mt. Gox Payout Worries; XRP Leads Crypto Rally
Summary
Bitcoin surged above $65,000, hitting its highest price in four weeks. The crypto rally was broad-based, with the CoinDesk 20 index gaining nearly 3% and 16 of the 20 constituents in the green. XRP, the native token of the XRP Ledger payment network, was the strongest performer among altcoin majors, up 9% on Tuesday and 35% for the week. Whales increasing their holdings and traditional derivatives trading powerhouses announcing indices and reference rates for XRP supported its rally. Mt. Gox estate's movement of $2.8 billion worth of BTC raised concerns about potential sell pressure, but analysts believe the market can absorb the liquidation without severe disruptions.
