There was a resurgence in the cryptocurrency market on October 26 as Bitcoin’s (BTC) price climbed above $20,000 for the first time in weeks, and Ethereum’s (ETH) price rose above $1,500 for the first time since the post-merge crash; meanwhile, the market as a whole looks set to surpass $1 trillion.
Specifically, the value of the cryptocurrency market increased by $66 billion in the last twenty-four hours, rising from $928 billion on October 25 to $994 billion.
Indeed, the market capitalisation is just $6 billion away from exceeding $1 trillion, which is the closest it has been to recapture the level in nearly six weeks, with the market cap having last been above the psychological $1 trillion threshold on September 14.
Bitcoin hits the highest level since mid-September
Bitcoin reached its highest levels since the middle of September as the most prominent digital currency is getting closer and closer to the critical $21,000 barrier, trading at $20,649. What started as a siege on the $20,000 level then continued throughout the day, with liquidations climbing further after having already sealed the year’s largest shorts obliteration.
CURATED FROM:
Major, Jordan. Crypto market aims to reclaim $1 trillion in capitalisation after 6 weeks in the shadows. 26 Oct, 2022, https://finbold.com/crypto-market-aims-to-reclaim-1-trillion-in-capitalisation-after-6-weeks-in-the-shadows/.
