Bitcoin, Ethereum, and Ripple prices rebound from flash crash and push higher

The crypto market has continued its recovery and solid gains are being seen across the board again on Thursday.

This has led to the value of the entire market rising 1.5% over the last 24 hours to US$201.2 billion, according to Coin Market Cap.

However, it certainly wasn’t as plain sailing as it looks for the market. Overnight the Bitcoin (BTC) price flash-crashed during an incredibly eventful hour of trade.

In the space of just an hour the Bitcoin price fell over 4% from approximately US$6,350 to under US$6,100, before rebounding over 6.5% to above US$6,500.

The same declines and rebounds were seen across many of the major coins, but it isn’t clear why it happened.

One thing for sure, though, is that it isn’t a good look for the market ahead of the next U.S. Securities and Exchange Commission meeting relating to crypto ETFs later this month. Price manipulation has been a major concern and I’m sure these wild moves will have caught the Commission’s eye.

Here is the state of play on Thursday compared to 24 hours ago:

The Bitcoin (BTC) price is up 1.3% to US$6,438.57 per coin, lifting its market capitalisation to US$111.2 billion.

The Ethereum (ETH) price has risen 0.8% to US$211.00, giving ETH an improved market capitalisation of US$21.5 billion.

The Ripple (XRP) price has continued its run and is up a further 2.5% to 32.7 U.S. cents. This gives the alt coin a market capitalisation of just over US$13 billion.

The Bitcoin Cash (BCH) price is flat at US$433.87. The Bitcoin spin off’s market capitalisation remains at US$7.5 billion.

The EOS (EOS) price has climbed 2.9% to US$5.24, lifting its market capitalisation to US$3.9 billion.

Outside the top five the gains continued. Stellar (XLM) is up 0.3%, Litecoin (LTC) has risen 0.7%, Tether (USDT) has edged higher, and Cardano (ADA) has risen 5.1%. The only coin in the top ten in negative territory was Monero (XMR), which has fallen 0.8% to US$111.40.

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