Bitcoin Mining $ 60,000, SOL Up 8% (Market Watch)


Bitcoin has skyrocketed by around $ 3,000 in hours following positive reports from the United States and hit $ 60,000 for the first time since April. Some altcoins have also joined the race, with ETH surpassing $ 3,800 and Solana increasing by more than 8%.

BTC and $ 60,000 came together again

Just two days ago, bitcoin had pulled back hard and was on the verge of falling below $ 54,000. This happened after an unsuccessful attempt to exceed $ 58,000 for the first time in about five months.

However, the Bulls had yet to give up and started another impressive step yesterday as reported. This time, BTC recovered to the aforementioned level and continued to climb.

BTC hit $ 58,500 before another brief retracement took it below $ 57,000. At that point, however, reports emerged claiming that the United States Securities and Exchange Commission could give the green light to a Bitcoin Futures ETF as early as next week.

The implications of such a large development in the United States led to an immediate price spike. BTC added over $ 3,000 in value and touched $ 60,000 for the first time since April of this year.

Right now, bitcoin has lost around $ 1 trillion, but its market cap is still over $ 1.1 trillion. Dominance over altcoins has dropped to just under 46%.

BTCUSD. Source: TradingView

ETH hits $ 3.8,000: SOL up 8%

Ethereum has struggled over the past few weeks as it was unable to break through the $ 3,600 decisively. It even came back a few hundred dollars but went on the offensive yesterday and continued north today. As a result, the second largest crypto topped $ 3,800 for the first time in months, but it was short lived and is back below now.

Solana is another impressive artist on a 24 hour scale. SOL jumped 8% in one day and is trading well above $ 160. Uniswap’s 4% hike took UNI to $ 26, but the rest of the larger-cap alternatives stagnated or retreated.

Binance Coin, Cardano, Ripple, Polkadot, Dogecoin, Terra, and Avalanche are all slightly in the red.

Overview of the cryptocurrency market.  Source: quantifying crypto
Overview of the cryptocurrency market. Source: quantifying crypto

The 100 biggest coins have a new representative opposite NuCypher. NU exploded by over 500% in one day and hovered close to $ 2, but many in the community are speculating on Twitter that it could be a pump-and-dump system.

The polygon increased 25% to $ 1.6. The total crypto market cap is also above $ 2.4 trillion for the first time in months, after rising $ 90 billion in one day.


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Cryptocurrency Charts by TradingView.

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