Bitcoin eyes to surpass $70,000 mark again

ISLAMABAD: The cryptocurrency market remained bullish on Sunday amid a weaker US dollar, with the market capitalization gaining 1.9 percent to reach $2.77 trillion. As of 1130 hours GMT, the price of Bitcoin, the world’s oldest and most valued cryptocurrency, went up to $69,818 with an increase of 2.1 percent in the last 24 hours. The market capitalization of the biggest crypto has reached $1.372 trillion with this increase. Bitcoin has been 13.2 percent up in the past seven days. The price of Bitcoin jumped to a new record on Friday, breaking through $70,000 for the first time ever. At one point, however, it rose as high as $70,170.00, topping its previous record set on Tuesday. The up move began around the time the US stock market opened. With the introduction of spot bitcoin exchange-traded funds in the US, big crypto moves now tend to take place during traditional stock trading hours. On the other hand, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, went up by 0.6 percent to reach $3,945. TLTP
With this increase in price, the market capitalization of ETH has reached $473.8 billion. ETH has gained 16 percent of its value during the last seven days.
Similarly, Binance Coin (BNB) price jumped by 8.5 percent to reach $532. The market capitalization of BNB has reached $81.7 billion with this increase. BNB has gained 29.1 percent of its value during the last seven days.
However, Solana price inched down by 0.2 percent to reach $147. With this decrease in price, its market capitalization has reached $65 billion. SOL has gained 13.5 percent of its value during the last seven days.
Similarly, the price of Ripple (XRP) decreased by 0.1 percent to reach $0.621. The market capitalization of XRP stands at $34 billion with this decrease. XRP has gained 0.4 percent of its value during the last seven days.
The crypto trading has been especially volatile this week. After bitcoin reached a new record on Tuesday for the first time in more than two years, it quickly tumbled as much as 10%, pulling down other cryptocurrencies and crypto stocks along with it, then recovering much of those losses the next day. The bitcoin historical volatility index is at its highest level in almost a year, according to TradingView.