Crypto Markets Rally, With Bitcoin Pushing $7K, Ethereum Close to $500

The crypto markets are on a strong upswing today, July 8, as data from Coin360 shows, with with Bitcoin pushing the $7,000 price point.

The markets have seen just over a week of solid consolidation of gains first claimed in their late June rebound, and today appear to be pushing even higher resistance levels.

Bitcoin is trading around $6,752 to press time, up 3 percent over the 24-hour period, bringing its weekly gains to a solid 6-7 percent.

Top altcoin Ethereum is trading around $489 to press time, up almost 5 percent over the past 24 hours, and almost 9 percent on the week.

Bitcoin Cash is up a solid 5 percent over the 24-hour period, trading around $766 to press time.

There has been a recent steady stream of high-profile positive news in the crypto and blockchain space that could account for today's wave of confidence.

Bullish news for the global crypto landscape include yet further signs that the government of South Korea - historically a major crypto market - is considering easing its hardline stance on cryptocurrencies to establish unified rules with other governments, as well as embracing the wider blockchain space.

Positive news has also been forthcoming from some of the world's leading crypto exchanges, with new overseas ventures and expectations of skyrocketing revenue.

Huobi, currently ranked third largest crypto exchange by daily trade volumes, opened registration on its newly created U.S.-based "Strategic partner" trading platform this Friday, July 6.

Changpeng Zhao, the CEO of the world's top ranked crypto exchange Binance said he "Expects" the company's 2018 net profits to reach up to $1 billion.