Bitcoin SV and Bitcoin Cash prices rose significantly on Monday due to a renewed sense of hope in the crypto market. BSV increased by 13% to $38.27, while Bitcoin Cash jumped to $228.64. Additionally, cryptocurrencies like Solana and Stacks also experienced growth.
The SEC’s decision to not appeal Grayscale’s lawsuit was the main catalyst for this increase in prices. Furthermore, the false report by Cointelegraph that the SEC had approved the iShares Bitcoin Trust also caused BTC to reach almost $30,000 before retreating.
The optimism in the market was further exemplified by the growth of American equities. The Nasdaq 100 index, S&P 500, and Dow Jones all increased by more than 1%. As history shows, cryptocurrencies usually gain when stock prices are up.
However, whether the SEC will approve a Bitcoin ETF is still uncertain, and this could easily affect the prices of BCH and BSV. Additionally, inflation expectations have been rising in the past few weeks, which could also affect the prices of these coins.