Bitcoin Tops $36k As Market Rally Continues

TL;DR

• Bitcoin is up by more than 3% in the last 24 hours and is now trading above $36k.

• BTC has now added more than 30% to its value in the last month.

BTC Now Trading Above $36k

Bitcoin, the world’s leading cryptocurrency by market cap, has resumed its uptrend, surging past the $36k level a few hours ago. BTC has added more than 3% to its value over the last 24 hours and is now trading above $36,600 per coin.

The rally comes as spot Bitcoin ETF discussions took center stage again. The US SEC is said to start discussing with Grayscale as the digital asset management firm looks to convert its GBTC product to a spot Bitcoin exchange-traded fund. If the rally continues, market analysts are optimistic that BTC could touch the $40k level in the near term. 

Thanks to the recent rally, Bitcoin has now added more than 30% to its value over the last month, outperforming other major financial assets in the world.

Ether, the second-largest cryptocurrency by market cap, is also not left out of this rally. ETH is up by more than 2% and is currently trading above $1,900 per coin. Chainlink (LINK) is the best performer amongst the top 20 cryptocurrencies by market cap and is eyeing the $15 mark in the short term. 

The total cryptocurrency market cap now stands at $1.37 trillion, up by nearly 3% in the last 24 hours.