Crypto News

Bitcoin (BTC) surges past $53k for first time since 2021 as trading volume soars by 30%

the price of Bitcoin (BTC) is hovering around $53,446

As of this writing, the price of Bitcoin (BTC) is hovering around $53,446. This is the first time it has broken the $53,000 mark since 2021.

The largest crypto by market cap reached over $53,600, according to CoinMarketCap. With over a 3.8% increase over the previous 24 hours, Bitcoin was trading at $53,455 as of press time.

Aside from Bitcoin, Ethereum, the second-largest crypto, has risen by over 4% from its intraday low and is now trading above $3,155. However, the ETH-BTC ratio is down 2.10%. This indicates the strength of the Bitcoin-led rise.

Trading volume across the board went through the roof after a weekend of mostly unchanged prices. At 30.9%, BTC, Tether, BNB, SOL, and Staked ETH are at the forefront, followed by a relatively 15% increase from ETH.

Today, MicroStrategy Incorporated has bolstered its Bitcoin holdings, acquiring around 3,000 BTC for an estimated $155.4 million in cash.

This acquisition, carried out between February 15 and February 25, 2024, highlights the firm’s continued confidence in Bitcoin as a valuable digital asset.


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