Bitcoin Rally to $42K Fueled by ‘Panic Buying,’ Pushes Crypto Market Cap Over $1.5T
Bitcoin hit a fresh yearly high of $42,000, pushing the market capitalization of all cryptocurrencies over $1.5 trillion for the first since May 2022.
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Bitcoin hit a fresh yearly high of $42,000, pushing the market capitalization of all cryptocurrencies over $1.5 trillion for the first since May 2022.
Bitcoin hit an 18-month high near $38,000 before pulling back sharply.
Polygon’s MATIC and Chainlink’s LINK led altcoin gains Wednesday afternoon.
Altcoins posted gains of 5%-10% on Monday while bitcoin (BTC) treaded water near $35,000 as investors ventured into riskier tokens as calls for an altcoin season emerge.
Layer 1 cryptocurrencies and DeFi tokens soared this week as bitcoin and ether chopped sideways.
Bitcoin [BTC] mining stocks soared Thursday amid stable bitcoin price near its 17-month highs and bullish equity markets.
Market participants will now turn to Fed Chair Jerome Powell’s post-meeting press conference to glean insight into the future path of U.S. central bank policy.
The boredom ended in October as cryptocurrency prices zoomed higher, with the biggest of them all, bitcoin [BTC], posting the strongest monthly rally since January as investors were abuzz with optimism that bitcoin ETFs will soon get approved in the U.S.
Bitcoin’s advance this week coupled with gains across all digital asset sectors, highlighting the breadth of the crypto rally.