Bitcoin increased about 6% to surpass $61,000, concluding a three-day decline and recovering. The most valuable crypto globally is currently trading at $60,935, reflecting a 5.5% increase in the last 24 hours.
The broader crypto market saw signs of revival, increasing its total value by over $45 billion, with Bitcoin and Ethereum spearheading the resurgence. The performance of the top 10 crypto by market capitalization has been inconsistent, reflecting a cautious tone in the market.
Ethereum experienced a 3.5% increase in the past 24 hours, elevating its price to $2,369.38. BNB and Solana had increases of 2.43% and 1.45%, trading at $546 and $132.47, respectively. XRP and Dogecoin increased around 2% in the past 24 hours, trading at $0.5857 and $0.1014, respectively.
Avalanche (AVAX) increased by 3.43% and is trading at $24.20. Toncoin (TON) experienced a 1.38% boost, elevating its price to $5.50, while TRON (TRX) rose by 1.61% to $0.1507, and Cardano (ADA) increased by 1.87% to $0.3371.
Yields on US 10-year Treasury bonds declined to their lowest point in 15 months, indicating a heightened investor inclination towards riskier assets, such as crypto. The Fedwatch tool indicates an increasing probability of a 0.5% interest rate reduction by the Federal Reserve, with the possibility rising to almost 70%.
