Why Bitcoin, Ethereum, and Cardano Are On the Move (Higher) Today

After yesterday's absolute rout in the cryptocurrency sector, investors may not necessarily be surprised to see top tokens Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Cardano (CRYPTO: ADA) surging higher today. Yesterday's declines were dramatic, with investors selling risk assets en masse amid concerns around higher bond yields and what could be a more robust bear market.

As of 9:45 a.m. ET today, Bitcoin and Ethereum both moved 3.1% higher, with Cardano seeing some significant acceleration higher, appreciating 8.5%. The move higher in Bitcoin and Ethereum appears to be a bottom-fishing trade, with long-term investors scooping up tokens at discounted prices.

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Source Fool.com