Hassan Maishera
TL;DR
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BTC is trading above $106k after adding over 1% to its value during the weekend.
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The positive performance comes despite the ongoing conflict between Iran and Israel.
BTC Tops $106k After the Weekend Rally
The cryptocurrency market performed positively over the weekend, with Bitcoin and other major coins in the green. Bitcoin added more than 1% to its value over the weekend and is now approaching the $107k mark.
At press time, BTC is trading at $106,700 and could rally higher as traders remain optimistic about the coin’s price action. The positive performance also comes despite the ongoing conflict between Iran and Israel.
Bitcoin dropped to the $103k level on Thursday after Israel launched a “preemptive strike” on Iran’s nuclear program and other military targets. Iran has retaliated, with the two countries exchanging airstrikes for three consecutive days.
However, the conflict hasn’t dampened investors’ sentiment in the market. Ether, the second-largest cryptocurrency by market cap, is trading above $2,600 again after adding 3% to its value on Sunday.
Solana’s SOL is the best performer among the top 10 cryptocurrencies by market cap, up 6.5%. Thanks to the positive performance, the total cryptocurrency market cap now stands at $3.33 trillion.
Metaplanet’s BTC Holdings Hit 10,000
Japanese company Metaplanet is fast becoming one of the leading corporate Bitcoin holders in the world. The company’s BTC holding has now hit 10,000 after its latest purchase of 1,112 bitcoins.
Its latest acquisition also saw Metaplanet surpass Coinbase’s Bitcoin holdings. Earlier today, the company announced that its board of directors approved the issuance of its 18th series of ordinary bonds worth $210 million to EVO Fund, with their maturity date set for Dec. 12, 2025. The funds generated from the bond sales would be allocated toward the purchase of Bitcoin.
