Crypto Price Today: Bitcoin jumps above $45,000 for first time since April 2022; Solana rises 10%
cryptocurrency Bitcoin (BTC) surged above the $45,000 mark on Tuesday for the first time since April 2022, fuelled by market expectations for the approval of Bitcoin spot ETFs.
Bitcoin touched a 21-month peak of $45,488, having gained nearly 155% last year in the strongest performance since 2020. BTC was last up 6.9% at $45,264 but remains far off the record high of $69,000 it touched in November 2021. Meanwhile, the second largest crypto, Ethereum rose 4.9% to $2,386.
«Bitcoin started the new year by surpassing the US$45,000 level, driven by market expectations for the approval of Bitcoin spot ETFs. A sustained bullish momentum could propel BTC to US$46,300 and subsequently US$47,600; however, if not, the support level is pegged at US$43,700,» said Edul Patel, CEO of Mudrex.
Investor focus has been squarely on whether the US securities regulator will soon approve a spot Bitcoin ETF, which would open up the Bitcoin market to millions of investors.
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View Details»Other popular altcoins, such as Solana and Avalanche, rose 9% and 10%, respectively. XRP, Cardano, Dogecoin, Polkadot, Chainlink, and Shiba Inu surged 3-7%.
The global cryptocurrency market cap rose 6.02% to around $1.74 trillion in the last 24 hours.
The total volume in DeFi is currently $7.43 billion, 12.62% of the total crypto market 24-hour volume. The volume of all stablecoins is now $50.74 billion, which is 86.21% of the total crypto market 24-hour volume.
Bitcoin's dominance is currently 50.94%, according to CoinMarketCap. BTC volume in the last 24 hours rose 56% to $26.3
