The current bull run has led to a significant increase in the market capitalization of the cryptocurrency industry, which has resulted in digital currencies surpassing the $1 trillion barrier. The leading cryptocurrency, Bitcoin (BTC), has been on an upward trend for a few days, which has resulted in the price of Bitcoin (BTC) surpassing the mark of $22,000 and is currently seeking to stabilise around the level of $23,000.
On the other hand, given the prolonged and severe bear market that occurred in 2022, increasing prices bring with them a higher incentive for investors and miners to take exit liquidity.
The rise in price from $16,900 to $23,100 correlates with the increase in the proportion of the supply that has earned a profit, which rose from 55% to over 67% during this time. This 12-percent spike in profits over the last 14 days is one of the sharpest gains when compared to other bear markets that have occurred in the past. This provides you with an estimate of the total number of coins that changed hands at a price that was less than 23,300 dollars.
Bitcoin’s price has increased by 1.24% in the last twenty-four hours and is now trading at $23,018.20. The total value of Bitcoin’s market cap has surged by 1.24%, while its trading volume has increased by 14.64% to $31,296,343,604. The price of Bitcoin (BTC) reached a new weekly high of $23,282.35 over the last week, giving it a market domination of 42.30%.
Finally, the recent price rebound from December lows to more than $23.2k has greatly boosted investor profitability across the cryptocurrency market.
#CYBRO stands out as a unique marketplace on the Blast blockchain, designed to help users…
Unlock the potential of #Bitcoin beyond currency. CEO Neil Bergquist reveals its role in reshaping…
🚀🌐 The meteoric rise of Real World Asset (RWA) cryptocurrencies is reshaping the crypto world!…
📰🔍 Dive into the crypto conversation shaping the 2024 US elections! Debates, voter preferences, and…
The crypto market is experiencing a surge in 2024, drawing attention to select cryptocurrencies that…
#Coinbase grapples with system-wide outage, raising questions about #cryptoexchange resilience. Insights & implications revealed. #Crypto