Bitcoin Rises 7% Over the Day to Hit Five-Week High
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Loading... - Thalia Doukas
- 20 Jul 2022
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Bitcoin (BTC), the world’s largest cryptocurrency by market cap, surged 7% in the past 24 hours and is currently priced at $23,369, according to data from CoinMarketCap.
Although this represents a slight decrease from the daily high of $23,759 that was recorded in the early hours on Wednesday, Bitcoin is still trading at levels last seen on June 13th.
The leading cryptocurrency is also up an impressive 17% over the last week, with the latest price action coming amid growing trading volumes.
As much as $48.7 billion worth of Bitcoin changed hands across crypto exchanges on Tuesday, with this value standing at more than $47.3 billion in the past 24 hours.
For comparison, at the beginning of the month, daily trading volumes fell to just $16.3 billion—one of the lowest points since the start of the year.
The blue-chip Dow Jones Industrial Average soared 754.44 points or 2.43% to 31,827.05; the tech-heavy Nasdaq jumped by 353.10 points, or 3.11%, to 11,713.15; and the S&P 500 gained 105.84 points, or 2.76%, to 3,936.69.
Tuesday also saw shares in crypto-centric companies rising as well, with MicroStrategy (MSTR) jumping by more than 18% to $267.17 and Coinbase (COIN) soaring 12.2% to $65.83.
Elsewhere in the crypto market, notable gainers include meme coins Dogecoin and Shiba Inu, which are up 13% and 11% over the day, respectively.
Ethereum has meanwhile slowed some after the recent rally that took the price of the second-largest cryptocurrency to $1,600 on Tuesday, and is now trading at $1,531, down 0.04% over the day. Read More...
