Cryptocurrency markets experienced a strong upward momentum today, with Bitcoin (BTC) breaking past the $60,000 mark and Nervos Network (CKB) posting an impressive 59% surge.
The cryptocurrency market is on a bullish trajectory, buoyed by key macroeconomic events. Bitcoin led the rally, with its price hitting $60,408, a 4.21% rise in the last 24 hours. Meanwhile, Ethereum (ETH) followed suit, reaching $2,434, while altcoins like Solana (SOL) and XRP also posted gains.
The overall market sentiment has been optimistic, as the global crypto market cap grew by 3.31% to $2.11 trillion. Total market volume jumped by 8.6% to $66.54 billion.
Bitcoin Price Hits $60,000
Bitcoin’s price hit a 24-hour high of $60,656, marking a significant recovery and sparking increased investor confidence. BTC’s dominance also grew to 56.56%, reflecting its robust market presence. The surge coincided with substantial inflows of $263.07 million into Bitcoin ETFs, signaling strong demand from institutional investors.
Ethereum Shows 3% Gain
Ethereum also performed well, gaining nearly 3% to trade at $2,434. This rise is supported by $1.52 million worth of inflows into Ethereum ETFs. The altcoin’s market cap currently stands at $292.89 billion.
Solana and XRP Record Gains
Solana (SOL) experienced a 4% increase, with its price reaching $139.60. XRP followed closely, gaining 3% to trade at $0.5784. The rise in XRP’s price is attributed to significant on-chain movements involving Ripple, raising discussions among investors and analysts.
Meme Coins and Top Gainers
Meme coins also joined the rally, with Dogecoin (DOGE) up by 5%, trading at $0.1071, and Shiba Inu (SHIB) rising by 4%. Among the top gainers, Nervos Network (CKB) saw the biggest spike, soaring 59% to $0.01411.
Other notable gainers include Bittensor (TAO), up by 11% at $322.41, and Polygon (POL), which surged 10% to $0.4194 following its recent Binance listing.
Top Losers
While most cryptocurrencies enjoyed gains, a few posted losses. MANTRA (OM) dropped 3%, trading at $1.12, followed by TRON (TRX) with a 2% decline to $0.1479, and Quant (QNT), which dipped 1.5% to $76.15.
Market Sentiment Ahead
Despite Bitcoin’s slight slip of 0.12% in hourly trading, overall market sentiment remains positive. Ethereum’s minor hourly gain of 0.07% adds to the mixed but hopeful outlook, as investors await further market developments.
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