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Bitcoin has just surged above $72,800 while I watch the charts here. That's an interesting move, especially when you see that Ether and XRP are reacting significantly less dynamically.
What I notice right now: While Bitcoin shows this strength, the altcoins are lagging a bit. Ether is just over 1 percent up today, but XRP is practically not moving at all – only 0.07 percent in 24 hours. That’s quite a big difference compared to Bitcoin’s momentum.
Interestingly, the whole scenario correlates with what’s happening in the commodity markets right now. Oil prices are falling noticeably, which would normally be bullish for riskier assets like cryptocurrencies. Bitcoin seems to be benefiting from this, but the altcoins are hesitating. I’ll keep an eye on how this develops over the next few days.