Bitcoin and Ethereum gain ground, but altcoins trade in a mixed bag

On Friday, Bitcoin increased moderately to reclaim the $25,800-levels, while Ethereum moved along similar lines but failed to cross the $1,650-mark.

After nearing six-month lows, Bitcoin was struggling to retain modest gains on Thursday. As the rise faded, some fund purchasing in the crypto market aided the bearish emotions. Before the G-20 conference this weekend in New Delhi, all attention will be on macroeconomic policies and crypto legislation.

Bitcoin climbed somewhat on Thursday, regaining the $25,800 mark. Its greatest peer, Ethereum, followed suit but was unable to get through the $1,650 barrier. Altcoin price action in the smaller peers remained positive.

Bitcoin is trading above $25,600, attempting to break past the $26,000 barrier zone once more. However, it has not gained enough traction to cross the $26,000 and $26,200 levels. This tendency is consistent with historical data, which reveals that Bitcoin’s price has historically fallen in September during the last six years.

Over the last week, Ethereum has maintained inside a small trading range, oscillating between $1,600 and $1,700. Ark Invest and 21Shares have filed an application with the US Securities and Exchange Commission to establish the Ark 21Shares Ethereum ETF. If approved, this would be the first attempt in the United States to launch a spot Ethereum ETF.

All prominent crypto tokens were trading somewhat higher on Thursday, with a few outliers, while selling in larger peers weighed on the markets. Toncoin rose 4% among the gainers, while Tron increased by roughly 2%. On the negative, Solana fell 2%, while Dogecoin and Cardano both dropped approximately 1%.

The worldwide cryptocurrency market cap was nearly constant at $1.04 trillion, having crept down marginally in the previous 24 hours. However, total trade volumes increased by more than 10% to $26.72 billion.

BTC’s price remained in a small range for another day, albeit for a very short time. The minor drop and pump occurred at the same time when significant tech investor Cathie Wood’s ARK Invest applied for a spot Ethereum ETF in the United States.

In other news, Google’s ad services will now allow NFT game designers to market their games incorporating in-game digital asset exchanges if they do not contain any gambling-related components, marking one of the most significant product policy changes in recent times. Google enabled such games to be listed on the Play Store in July of this year.