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The Latest Cryptocurrency News
The leading cryptocurrency Bitcoin rallied over 10%, surpassing $57,000 for the first time since November 2021.
Bitcoin’s Price Rally
The price rally led to total shorts positions losing over $268 million in the last 24 hours, including $158 million in bitcoin shorts, according to Coinglass data.
Impact on Altcoins
Bitcoin’s surge spilled into altcoins, with ETH trading above $3,241, up nearly 5% in the last 24 hours. Solana (SOL), the fifth largest crypto by market cap, also recorded a nearly 7% rise, trading above $109.
Overall Market Cap
The entire crypto market cap sits at $2.24 trillion, marking a 6.8% jump in the last 24 hours, based on Coingecko data.
Spot Bitcoin ETFs Volume
US spot Bitcoin ETFs hit an all-time high in daily volume, reaching $2.4 billion. BlackRock’s ETF trading under the ticker “IBIT” accounted for $1.3 billion of the total volume.
MicroStrategy’s Bitcoin Purchase
Microstrategy purchased 300k BTC at an average price of $51,813 for $155.4 million on Monday. The company now holds 193,000 BTC, worth $10.8 billion.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
