- The market value of all cryptocurrencies surpassed $1 trillion in January.
- Bitcoin (BTC), has just finished the fourth consecutive week in the green.
- BTC price is down by 1.49% in the last 24 hours.
January has been a wonderful month for all cryptocurrencies. This is because most cryptocurrencies have been in a positive trend, resulting in the majority of them reaching new market values. In general, the market value of all cryptocurrencies surpassed $1 trillion in January, following a drop below $1 trillion in November last year.
The top cryptocurrency by market capitalization, Bitcoin (BTC), has just finished the fourth consecutive week in the green, according to a recent report on Twitter by CryptoNewsLand. Reports indicate that the most recent instance of this scenario occurred in August 2021, when BTC recovered after the ban by the Chinese government. This also is the highest weekly close since August 2022 when BTC market closed at $23.7k.
This month, BTC has established a monthly high of $23,861.14. As of press time, BTC is down by 1.49% and is exchanging hands at $22,909.15 over the last 24 hours. BTC prices have been in bearish sentiment as indicated by the decrease in its trading volume, which has seen a price dip of 9.10%.
The green weeks also clearly highlight how powerful our current rally is and how hard we are rebounding from the recent lows of $15,000. The first red week might be approaching soon; therefore, we should exercise caution as each green week is becoming smaller and less potent. Currently, BTC’s monthly closing gains are sitting at about 43%, which is a huge gain in BTC market. This is the highest monthly gain in Bitcoin market since December 2020.
At the time of this publication, the market for cryptocurrencies is worth $1.05 trillion and has a 24-hour volume of $55.09 billion. The current Bitcoin dominance is 42.50%.
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