Key Takeaways:
Bitcoin recovered from the weekly low of under $64,000 and now sits above $67,000. Not only Bitcoin, but the entire crypto market recovered from its recent loss. This is creating interest among BTC investors within the crypto ecosystem. Bitcoin has risen above $67 K. After the Friday crash toward $63,000, it started to recover during the weekend causing an increase to $66,000.The major reason behind the fluctuation was the announcement of the withdrawal of Joe Biden from the 2024 election race.
Bitcoin crashed by $2000 but started to regain the pace on Sunday. It went to a 6-week peak of over $68,400. But it could not maintain the momentum in the following days. That caused a loss of attraction and the price dropped to the 6-day low of $63,500 yesterday amid a market-wide correction. Further decline was intercepted by the bull.
Today the value of assets started increasing and tapped at $67,000.its market cap rose above $1.320 trillion.
On the other hand, most of the altcoins have been the poorest performers after the launch of Spot Ethereum ETF in the states. Along with the rest of the markets ETH is up today. It has added 3% of value and trades above $3,250.
The major gainers in the market include BNB, SOL, DOGE, TON, AVAX, SHIB, DOT, and LIMB. The losers in the market include XPR, NEAR, and LEO. The overall crypto market has overcome the loss from yesterday and is above 2.5 Trillion once again.
About Bitcoin: Some Significant Details
Bitcoin is considered the first cryptocurrency that came into actual use. Bitcoin is a decentralized centralized cryptocurrency that came into force in 2009. It was released by a person or group under the alias Satoshi Nakamoto. Bitcoin avoids intermediaries by allowing direct transactions between the users. According to Nakamoto Bitcoin was introduced to avoid the financial institution that transfers payments from one user to another.
It created a global community and a new industry of enthusiasts who build invest, trade, and use cryptocurrencies. The technology behind cryptocurrency is also utilized for the development of other projects. The total worth of the entire cryptocurrency market is more than $2 trillion. All the cryptocurrencies are based on the idea of eliminating the intermediaries of the financial market. Even after a decade of existence, Bitcoin is a leader in the market. Its market capitalization surpassed the mark of $1 trillion. Bitcoin can be created through a process called mining . Bitcoin was not been mined or distributors before the launch to the public. Initially, the competition of minors was low So the early minors accumulated wealth.
Bitcoin: Buying Options
If you are looking forward to investing in Bitcoin, you can easily trade the token through centralized crypto exchanges. Binance is the most popular option with the trading pair BTC/USDT. The trading volume of Binance is $1,493,798,201 for the last 24 hours. With the increase in its value over the years, more and more investors are interested in joining the BTC community. The total supply of the BTC token is 21,000,000. Bitcoin is a true global asset with its valuation constantly shifting.
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