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Bitcoin Nears $28K As Cryptos Rally Over The Weekend

Twitter icon  •  Published 2 years ago on October 16, 2023  •  Hassan Maishera

Bitcoin is closing in on the $28k mark following its rally over the weekend, with last week’s losses completely recovered.

Bitcoin Nears $28K As Cryptos Rally Over The Weekend

TL;DR

  • Bitcoin is trading close to the $28k level once again after dropping into the $26k zone last week.

  • The total cryptocurrency market cap now stands at $1.08 trillion.

Bitcoin Now Trades Around $27,900

The cryptocurrency market recovered most of its losses over the weekend after its poor performance last week. The prices of most coins and tokens are up by more than 2% over the last 24 hours.

Bitcoin, the world’s leading cryptocurrency by market cap, is up by more than 3% in the last 24 hours. At press time, the price of BTC stands at $27,890 per coin. Thanks to the weekend’s rally, BTC eliminated the losses recorded last week.

Ether, the second-largest cryptocurrency by market cap, also added 2% to its value over the last 24 hours and is now trading at $1,584 per coin as it is yet to reclaim its $1,600 benchmark.

Bitcoin Cash is the biggest winner amongst the top 20 cryptocurrencies by market cap. BCH added over 5% to its value and is now trading at $226 per coin.

With most coins and tokens trading in the green zone, the total cryptocurrency market cap surged to the $1.08 trillion mark. If the current momentum persists, Bitcoin could head towards the next major resistance level at $28,500 in the near term.

 

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Author

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Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.

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