While The Value Of The Crypto Market Reached 1.44 Trillion Dollars, Bitcoin Approached 46 Thousand Dollars


The cryptocurrency market has witnessed a significant rise in recent days, with Bitcoin (BTC) targeting $46,000 on Thursday after briefly falling to $38,000. This resurgence is part of a broader surge that has seen the overall market cap hit $1.44 trillion, alongside a 3.8% climb in the CoinDesk Market Index.

The recovery comes after the market took a $300 million liquidation hit earlier in the week, with futures liquidations remaining stagnant. This momentum is partly attributed to spot buying, which has been a major driver of price action.

Several altcoins also made notable gains. #cardano (ADA) and #DogeCoin (DOGE) each posted gains of up to 12%, while #Solana📈🚀🌐 (SOL) rose to $67 as concerns about FTX eased. #avalanche (AVAX) rose 24% on news that Ava Labs is teaming up with JPMorgan (NYSE:JPM) to launch a new portfolio management tool in Singapore.

Interestingly, cryptocurrencies have shown early signs of divergence from stocks. While both asset classes have been on the rise since October, crypto's recent movements point to a potential divergence in market behavior. This shift points to increasing investor confidence in digital assets that are starting to stand on their own in the face of global economic challenges.
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