(Bloomberg) -- Bitcoin spearheaded a rally in crypto tokens Monday as investors turned to digital assets in the wake of robust US jobs data.
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The largest cryptocurrency by market value rose as much as 4% above the $24,000 mark by mid-morning trading in London, while Ether was up 3% at around $1,770. The sector was buoyed alongside similar moves in European stocks and US equity futures after the strong payrolls print suggested the world’s biggest economy may avoid a hard landing even as the Federal Reserve tightens aggressively.
Altcoins added to the sea of green, Bloomberg pricing data showed, with Solana’s SOL, Polkadot’s DOT and Avalanche’s AVAX all gaining more than 3% in the past 24 hours.
“Sentiment across the markets looks a little fragile this morning and yet crypto appears to have shrugged off Friday’s shock much more quickly,” said Craig Erlam, senior markets analyst at Oanda, in notel to clients.
Bitcoin has its “sights set on $25,000 it seems”, he...
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