Bitcoin is up some 10% since Monday, rising from $44,000 to above $48,000 at the time of writing, with eth also touching $3,500.
Numerous factors are contributing to a bit of bullishness after a small dip, including a worsening of the situation in China where Evergrande defaulted on banks.
Evergrande is getting ever small, with its attempt to quickly sell assets leading to a plunge in property sales to the point now China’s major banks have been notified Evergrande won’t be able to pay loan interest due on September 20th.
They’re discussing the possibility of extending payments and rolling over some loans with Evergrande owing some $88 billion to banks.
