Stay updated on the latest in the cryptocurrency market as #Bitcoin sees a significant surge, reaching a four-week high, while #ETHER leads the altcoin rally by surpassing $2,400. Discover the factors driving these price movements and the broader market trends shaping the crypto landscape.
U.S. stock market strength likely lifted cryptocurrencies, with Bitcoin hitting a four-week peak above $44,000 to reach a fresh four-week peak, driven by increased accumulation by large holders and record highs in U.S. equity indices.
The leading cryptocurrency rose from $42,700 earlier in the day to as high as $44,300, marking its highest level since January 12, the day following the launch of spot bitcoin exchange-traded funds (ETFs) in the U.S.
Ethereum $ETH led altcoins, while analysts noted increased accumulation by large holders.
The S&P 500, Dow Jones, and Nasdaq reached record highs, easing concerns about New York Community Bancorp's financial health.
Ethereum surpassed $2,400 for the first time in TWO weeks Asset managers Ark Invest and 21Shares made amendments to their joint application earlier in the day, aligning it more closely with approved spot bitcoin ETFs to potentially address regulatory concerns.
Other Ethereum-related tokens, including #Polygon's $MATIC and #Arbitrum's $ARB , also saw gains.
