BTC rose 1.5% to trade over $26,100 in European morning hours on Thursday. Ether neared $1,700 before falling to $1,650. Xrp (XRP) and solana (SOL) led gains among major crypto tokens, rising as much as 3% before retreating.
The CoinDesk Market Index (CMI), a broad-based index that tracks the prices of hundreds of tokens, rose 1.67% in the past 24 hours.
Among mid-caps, THORChain’s rune (RUNE) bumped 6.8% as developers unveiled a way to allow cross-chain swaps of bitcoin via a tool built in collaboration with ShapeShift.
On Wednesday, a judge in the U.S. Bankruptcy Court for the District of Delaware ruled that FTX could sell and invest its crypto holdings to pay back creditors.
Meanwhile, FxPro Senior Market Analyst Alex Kuptsikevich told CoinDesk in an email that, generally, bearish sentiment remained intact among professional traders.
“The question is whether the recent dip will be the starting point for the next rally. Keep an eye on the activity near the recent highs; for now, the market is not allowed to go higher,” Kuptsikevich said.
“Despite the potential for a rebound, BTCUSD remains within the bearish momentum that has been in place since July, with lower and lower highs and lows,” he added. “Ether remains in a downtrend, although its intensity is decreasing.”