Market

Bitcoin Reaches Over $20,000, Ethereum Rises Biggest Since The Merge

The market is seeing Bitcoin (BTC) recover to the $20,000 level. The rising price of BTC is the driving force that makes the entire market flourish. Ethereum (ETH) also posted a gain of nearly 12%, the highest since The Merge.

At the end of October 25, the market recorded a strong recovery from Bitcoin (BTC), the largest cryptocurrency in the market. BTC rallied nearly 4% within 24 hours causing the price to recover to the $20,000 mark. This was also the driving force behind Ethereum rallying above $1,500 for the first time since the post-The Merge explosion.

24h BTC price chart. Source: Coincu.com
24h ETH price chart. Source: Coincu.com

Other notable altcoins today are also up big, including Solana up 12% to nearly $32, Cardano up 14% to $0.41, and Polkadot up nearly 11% to $6.50 per token newspaper.

All told, the entire crypto market currently has a total market cap of $1.03 trillion. This is the first time the market has hit the $1 trillion mark since October 4.

That could be due to analysts’ pointing to macroeconomic trends, with the stock market also edging higher today as a host of major companies reported earnings of giants GM and Coca-Cola. The tech-heavy Nasdaq and S&P 500 gained 2.25% and 1.2%, respectively.

Investors remain focused on the U.S. Federal Reserve’s continued efforts to rein in inflation without sending the economy into recession. Last week, they received some encouragement from fading signs that the Federal Reserve would raise interest rates less aggressively early next year than it currently has by 75 basis points.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Foxy

CoinCu News

Victor

Recent Posts

Bitcoin Trading Volume Skyrockets to $145 Billion as Retail Investors Return

Bitcoin trading volume has surged to an all-time high of $145 billion in the last…

31 minutes ago

Italy Considers Reducing Proposed Italy Crypto Tax to 28%

Italy considers lowering its proposed Italy crypto tax increase to 28% from an initial 42%,…

4 hours ago

Bitcoin Spot ETF Inflows Reach $818M Amid 5-Day Positive Streak

Bitcoin Spot ETF Inflows Hit $818M as Net Inflow Streak Extends to 5 Days, with…

4 hours ago

Elon Musk Invests $200M in Trump, Treats Government Like X (Twitter)

Elon Musk applies his X (Twitter) management style to politics. His political strategies, including voter…

5 hours ago

PayPal Stablecoin PYUSD Now Available for Cross-Chain Trading via LayerZero

PayPal stablecoin PYUSD can now transfer seamlessly between Ethereum and Solana via LayerZero.

6 hours ago

New Department of Government Efficiency Will Be Led by Musk

President-elect Trump plans to establish the Department of Government Efficiency, led by Elon Musk and…

7 hours ago

This website uses cookies.