Cryptocurrency Price on March 5: Bitcoin jumps above $68,000; market value touches record
cryptocurrency by market value.
In early trade on Tuesday, Bitcoin was at $68,500, having reached a session high of $68,828, only 2% away from the all-time peak of $68,999.99 it set in November 2021.
The market capitalization of the token reached $1.35 trillion, scaling the peak of $1.28 trillion from November 2021, CoinGecko data show. That was the month the token jumped to $68,991.85 at the apogee of its pandemic-era bull run.
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View Details»«Bitcoin surged above the $68,300 level with positive sentiment across the market with institutional demand, spot Bitcoin ETFs growth, and the approaching halving event,» said Edul Patel, CEO of Mudrex.
«Bitcoin’s dominance has increased to 53%. The global market cap also saw a 5% increase over the past day. If this trend continues, we are likely to see Bitcoin beating its all time high any time now,» Edul said.
Meanwhile, Vikram Subburaj, CEO of Giottus Crypto Platform, said, «With crypto’s fear and greed index hitting 90, there is a chance that a short-term correction can occur in the upcoming weeks. But inflows into Bitcoin ETFs will likely guard Bitcoin from falling below $60,000.»
Following the rise in Bitcoin, altcoins such as Ethereum (6.6%), Dogecoin (15%), Shiba Inu (70%), Internet Computer (17%), and Uniswap (6%) surged.
The total crypto market volume over the last 24 hours is
