đ Bitcoin blasts past $56,000 as investors flock to ETF đ
Bitcoin, the king of crypto, soared by 8.38% on Tuesday, reaching as high as $57,000 in early trading. This is the highest level in two years for the digital currency, which has gained $4,263 in just one day.
The main driver behind Bitcoin's rally is the growing demand for Bitcoin ETF, a fund that tracks the price of Bitcoin and allows investors to trade it on stock exchanges.
đ Ether joins the party, other cryptos follow đ
Ether, the second-largest cryptocurrency by market value, also enjoyed a surge in price, rising by $216 in one day. It broke the $3,220 barrier for the first time in two years, after hovering around $3,000 for a while.
Other popular cryptos, such as Solana, Binance Coin, Ripple, Cardano, Tron, Chainlink, Near Protocol and Elrond, also saw their prices increase. The total market capitalization of crypto jumped by 6.05% to about $2.12 trillion.
đ What experts say đ
Trading volume for Blackrock's Spot Bitcoin ETF has reached $1.3 billion. However, it will not be easy for Bitcoin to reach previous highs of around $69,000," the markets desk at crypto app CoinSwitch told Gadgets360.
Edul Patel, CEO of crypto exchange Mudrex, said, "Ether has crossed the level of $3,200 after two years. This is indicating bullish sentiment in the market #Write2Eam #BTC #pepe #Meme
