Bitcoin Pushes Towards $38K Once Again
Bitcoin experienced a significant surge yesterday, gaining $3,000 in just a few hours and challenging the $38,000 mark once more. Last week, Bitcoin reached this milestone for the first time in 18 months, only to see a rapid decline shortly after. Despite this setback, Bitcoin has managed to regain some of its value and has been hovering above $37,000 for the past few days. However, it hit a weekly low of $35,000 on Wednesday before bouncing back and reaching the $38,000 mark again.
Bitcoin’s market capitalization has also increased by approximately $30 billion and now sits just over $730 billion on CMC.
Altcoins Rally Alongside Bitcoin
Following Bitcoin’s surge, many altcoins have also seen gains. Ethereum reclaimed the $2,000 level, while Binance Coin jumped above $250. Other notable price increases come from assets such as Solana, Cardano, Dogecoin, Polkadot, Toncoin, Uniswap, and Avalanche. As a result of these surges, the total crypto market cap has risen by over $60 billion overnight and is currently close to $1.45 trillion on CMC.
Hot Take: Market Surge Indicates Positive Momentum
The recent surge in both Bitcoin and altcoins suggests positive momentum in the crypto market. While volatility remains a concern, the overall trend appears to be bullish as cryptocurrencies continue to gain value across the board.
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