Hassan Maishera
TL;DR
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BTC is trading at $90k after adding 2.5% to its value in the last 24 hours.
BTC Eyes $94k as Market Turns Bullish
The cryptocurrency market is having a bullish holiday period despite the slow price action. Bitcoin, the leading cryptocurrency by market cap, added 2.5% to its value in the last 24 hours and has reclaimed the $90k level in the process.
The positive performance comes as hopes for a Russia-Ukraine peace deal diminished. Russia and Ukraine conducted attacks on key energy infrastructure, affecting peace deal prospects despite ongoing diplomatic efforts.
The Russia-Ukraine war has been raging for nearly four years, adding to inflation in the global economy.
The positive price action comes despite low volume and volatility in the market, with altcoins also rallying higher.
Ether, the second-largest cryptocurrency by market cap, has reclaimed $3k after adding 3% to its value, making it the best performer among the top 10 cryptocurrencies by market cap.
Thanks to the latest rally, the total cryptocurrency market cap now stands at $3.04 trillion.
