Crypto News

Crypto markets sees over $150 billion inflow as Bitcoin price soars above $57K

FILE PHOTO: Physical representations of the bitcoin cryptocurrency are seen in this illustration taken October 24, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

Bitcoin’s (BTC) price soared over $57,000 following several days of trading aimlessly between $51,000 and $52,000, hitting to a 26-month high.

The last time the largest crypto by market cap hit $57,000 was in November 2021 when the price hit an all-time high of around $69,000.

Bitcoin jump also triggered surge in alternative coins. Cryptos like Solana (SOL) and Bitcoin Cash (BCH), also saw huge rises, with SOL surpassing $110 and BCH reaching $300.

Despite a quiet 7-day period last week, BTC’s bull run restarted on Monday afternoon, with the price surging to over $53,500.

It is noteworthy that Bitcoin subsequently surged even more during the early Tuesday, topping $57,000 for the first time since late 2021.

Currently, BTC is slightly above that amount, heading towards $60,000. In addition, its market capitalization has climbed to more over $1.1 trillion on CoinMarketCap. Its dominance over other coins has also climbed by 1.4%, to over 49.5%.


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