- Bitcoin surged 10.02% to $83,747.4, hitting a new all-time high despite recent volatility.
- Bitcoin’s market cap rose to $1.69 trillion, dominating 60.70% of the crypto market.
Bitcoin made an impressive jump on Tuesday, reaching $83,747.4 on the Investing.com Index. This marked a significant 10.02% gain, the largest one-day surge since November 9, 2022.
With this rally, BTC market cap increased to $1.69 trillion, making up 60.70% of the entire cryptocurrency market. At its highest, Bitcoin’s market cap was $2.1 trillion.
A Volatile Week for Bitcoin
Despite the recent surge, Bitcoin has experienced a rocky week. Over the last seven days, its value has dropped by 7.31%, trading between $78,329.78 and $94,986.50.
In the past 24 hours alone, Bitcoin has fluctuated between $83,747.4 and $86,756.4, reflecting strong market activity. Trading volume stood at $70.1 billion, making up 41.11% of the total cryptocurrency trading volume.
Bitcoin Hits a New All-Time High
At its current price, Bitcoin has reached a fresh all-time high, signaling strong demand and investor confidence. However, the sharp price swings highlight the ongoing volatility in the market.
Ethereum and Tether See Mixed Performance
While Bitcoin enjoyed a strong rally, Ethereum faced a sharp decline. It was last seen at $2,048.48, down 16.73% on the day. Ethereum’s market cap dropped to $253.5 billion, accounting for 9.10% of the total crypto market.
Meanwhile, Tether USDt remained relatively stable, trading at $0.9999, with a minor 0.03% loss. Its market cap stood at $142.4 billion, representing 5.11% of the total cryptocurrency market.
What’s Next for Bitcoin?
Bitcoin’s surge to a new all-time high suggests strong bullish momentum, but its recent weekly decline raises questions about sustainability. Market watchers will be closely monitoring whether Bitcoin can maintain its gains or face another correction.
With trading volumes surging and market dominance increasing, Bitcoin remains the leader in the crypto space. However, investors should brace for more volatility in the days ahead.
