Hassan Maishera
TL;DR
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BTC is up by 6% in the last 24 hours and is now trading above $71k once again.
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Altcoins are also rallying higher, with Ether up by 18%.
Crypto Market Recovery Continues with BTC Above $71k
The cryptocurrency market has been performing excellently since last week and it has now continued its winning streak. BTC, the world’s leading digital currency by market cap, is up by more than 6% in the last 24 hours.
Thanks to its latest rally, BTC is now trading above $71k per coin and is only down by 3% from its recent all-time high price of $73k.
With Bitcoin rallying, altcoins are also trading in the green. Ether is the best performer amongst the top 20 cryptocurrencies by market cap, up by more than 18% in the last 24 hours. At press time, ETH is trading above $3,600 per coin.
Ether’s rally is attributed to the swift progress recorded in the Ethereum spot exchange-traded fund (ETF) applications by the US SEC. the regulator has asked exchanges to update 19b-4 filings. While the SEC hasn’t approved the applications, some industry participants believe it is a positive sign.
Dogecoin and BNB are all up by 8% in the last 24 hours, with Cardano’s ADA adding 4% to its value. Solana’s SOL is the worst performer amongst the top 10, adding 1% to its value over the last 24 hours.
Thanks to the ongoing rally, the total cryptocurrency market cap has topped $2.6 trillion, up by 8% so far today.
