Bitcoin’s price has rebounded to US$26,500, in line with recent increases on Wall Street

As of Thursday morning, trading in Asia, Bitcoin was up to almost US$26,500. Ether rose in price as well. The top 10 non-stablecoin tokens were headed by Solana.

As of Thursday morning, trading in Asia, Bitcoin was up to almost US$26,500. On Wednesday, the token saw its largest one-day climb in the last six weeks, helping to offset some of the damage done by its precipitous drop the previous week. All of the top 10 non-stablecoin cryptocurrencies also saw gains in trading, as Ether approached the US$1,700 barrier mark. The cryptocurrency market rose on Thursday, mirroring the gains seen in the U.S. stock market. The U.S. economy slowed in August, according to S&P Global’s purchasing manager’s index, which eases fears about inflation and future interest rate hikes.

After Solana Pay’s announcement of its cooperation with Shopify to enable USDC payments on the e-commerce platform, Solana’s SOL led the crypto winners. OpenSea’s move to cease enforcing creator royalties has had a negative effect on the market, as measured by the Forkast 500 NFT index, which has fallen. Meanwhile, U.S. artificial intelligence (AI) chipmaker Nvidia reported profits that were above expectations, sending the company’s stock price up by 6% and providing a lift to U.S. markets.

As of 7:20 AM, Bitcoin’s price increased by 2.23% in the past 24 hours to US$26,510.04, although it was down 8.11% for the week. On Wednesday, the largest cryptocurrency in the world jumped 3.7% from its daily low to a seven-day high of US$26,786.90.

Bitcoin’s price surged with the stock market’s upswing. Wednesday ended with advances of more than 1% for both the S&P 500 and the Nasdaq Composite. That happened after S&P Global’s flash U.S. Composite PMI index, a gauge of manufacturing and services activity, was released.

Also Read: Solana Pay is compatible with Shopify and can process digital payments in US dollars