Share this article
Bitcoin, Ether Etch Largest Daily Gains in a Week
Prices have since begun to cool, with intraday resistance around $38,000 for bitcoin and $2,730 for ether.
Updated Sep 14, 2021, 1:04 p.m. Published Jun 1, 2021, 3:10 a.m.
The world's two largest cryptocurrencies by market capitalization, bitcoin and ether, have rebounded from seven-day lows.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Bitcoin was up 8.8% over the past 24 hours, having clawed back more than $3,000 from May 31 lows near $34,200. At press time the price was around $37,200. The move marks bitcoin's biggest daily gain in a week.
Ether surged 15% over the previous 24 hours, also the most in a week, extending the rally from May 23 lows to find a footing above $2,670.
"We’ve seen our institutional clients express nothing but increased interest in strengthening their long-term positions during this time," said Gunnar Jaev, COO at First Digital Trust, a digital-asset trust and custodian. "The movement is bullish.”
The price increases came amid fresh reports the Reserve Bank of India (RBI) issued a circular on Monday stating commercial banks under its purview cannot cite the reserve bank's 2018 ban.
That ban initially denied customers involved in digital assets access to traditional banking services. The ban was then quashed by the country's supreme court last year.
Prices have since begun to cool, with intraday resistance around $38,000 for bitcoin and $2,730 for ether.
See also: RBI Says Banks Can’t Quote 2018 Circular to Restrict Crypto Transactions
Other notable cryptos in the top 10 by market capitalization have also risen between 3% and 13% over the last 24 hours. XRP, uniswap, and dogecoin clocked the most gains.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
Top Stories
