What happened
The two largest cryptocurrencies by market cap, Bitcoin ( BTC ) and Ethereum ( ETH ), were also dominant in trading late Wednesday afternoon. As of roughly 4:30 p.m. ET, both were rising by over 4% across the preceding 24 hours.
So what
There were two big engines driving the prices of Bitcoin and Ethereum higher. The first was a resurgent stock market. Although cryptocurrencies are considered by many to be defensive investments against equity…
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