After slumping to a fresh 5-week low at $6100 in the last hours, the BTC/USD pair quickly reversed its course and rose to its highest level since September 15 at $6550. As of writing, the pair was trading at $6500, adding 2.5% on the day. Although there were no clear catalysts behind the recent upsurge, it seems as if the fall to $6100 may have triggered some short coverings.
On Bitcoin-related headlines, Bloomberg earlier today reported that new research found that hackers were illegally mining Monero and Bitcoin by exploiting a software bug that was leaked from the U.S. government. “Hackers can “sit back and watch the money roll in,” said Neil Jenkins, chief analytic officer of Cyber Threat Alliance, a group formed in 2014 by a consortium of cyber-security firms to share intelligence about cyber-threats. While the hacks are occurring across the globe, a significant portion are in the U.S., he added,” Bloomberg said.
Meanwhile, investors remain cautious ahead of the U.S. Securities and Exchange Commission (SEC) decision on September 30 on the proposed bitcoin exchange-traded fund (ETF).
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