Bitcoin Hit $23,800 As Aptos Rises 48% And Set An All-time High Record

Key Points:

• Bitcoin has surged more than 39% as shown by Coinmarketcap monthly chart.
• Ether followed a similar path as bitcoin, rebounding from lows near the $1,500 mark to reclaim its perch earlier this week at $1,614.
• APT, the token of Layer 1 blockchain Aptos, lately rose more than 48% in the last 24 hours to an all-time high of $18.62.

Bitcoin, the biggest cryptocurrency by market value has recovered ground lost in a late-Tuesday slump. The Tuesday crypto market downturn gave way to a Wednesday recovery, with bitcoin surging beyond $23,800 before falling slightly.

The largest cryptocurrency was recently trading for more than $23,800, an increase of more than 2% in the previous 24 hours.

BTC subsequently fell below $23,200 at one point on January 26 as speculators profited from the cryptocurrency’s recent rises. Bitcoin has surged more than 39% as shown by Coinmarketcap monthly chart, partly due to falling inflation and economic statistics indicating that the economy will escape a major downturn.

According to Coindesk, fourth-quarter earnings reports, including those from tech behemoths Microsoft and Texas Instruments, as well as the renowned aerospace business Boeing, appeared to derail at least the latter half of that narrative on Wednesday, pushing equities down.

The January stock market rally might be over and that could drag crypto lower here, Bitcoin could be vulnerable to a dip toward the $20,000 level if the tech-driven selloff on Wall Street intensifies over the next couple of days.

Edward Moya, senior market analyst for foreign exchange market maker Oanda, wrote in an email to Coindesk

Ether followed a similar path as bitcoin, rebounding from lows near the $1,500 mark to reclaim its perch earlier this week at $1,614 which is a 5% gain from the previous day.

The majority of major cryptocurrencies were in the green, with APT, the token of Layer 1 blockchain Aptos, lately rising more than 48% in the last 24 hours to an all-time high of $18.62.

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.

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