Cryptocurrency Market Grows to $870 Billion

The market value of digital currencies rose by more than $40 billion from the previous day during Monday trading to over $870 billion.
Bitcoin managed to hold above $17,000, sparking positive expectations that the most popular digital currency could hit a higher $18,000 level in the coming period.
Investors are bullish that Bitcoin will see an expected surge in the coming period, especially after the US Federal Reserve indicated it would cut interest rates on the dollar to calm inflation.
Ethereum was up 3%, Binance was up 1.6%, Ripple was up 1%, Cardano, Polka Dot, Litecoin, Chiba Ino and Dogecoin were up 2% to 5%.

For the first time since the collapse of FTX, Bitcoin is at

$21,000

Bitcoin and other cryptocurrencies continued to rise on Thursday as improved risk sentiment propelled the digital asset to its highest level since the FTX crash.

The price of bitcoin has risen by 4% in the last 24 hours to $21,000, the highest since the FTX cryptocurrency exchange crashed last November, causing the market to crash and the cryptocurrency to crash when it topped $21,000.

Since then, Bitcoin has traded in a range of $16,500 to $17,000 and has risen to $21,000 for the first time since then.

Over the past few days, Bitcoin has been in step with the stock market, rising supported by the Dow Jones Industrial Average and the Standard & Poor's 500, as well as investor optimism following the latest jobs report and news that the Federal Reserve is cutting rates. trips will be.

Economic analyst Craig Erlam said that Bitcoin is benefiting from improved risk appetite in the markets.

Cryptocurrency investors are bracing for more profits after economic data showed slowing inflation, which increases the likelihood that the Federal Reserve will ease monetary policy.

Ether, the second largest cryptocurrency, surged 5% to $1,400.