Bitcoin Climbs 11% As Investors Gain Confidence

Bitcoin experienced a significant increase in value, trading at $55,305.30 as of 08:15 (12:15 GMT) on Tuesday, marking a rise of 10.97% for the day. This represents the largest one-day percentage gain since February 28, 2022.

This upward trend propelled Bitcoin’s market capitalization to $1,090.6 billion, accounting for 57.25% of the total cryptocurrency market cap. At its peak, Bitcoin’s market cap reached $1,435.8 billion.

In the previous twenty-four hours, Bitcoin’s price fluctuated between $53,998.20 and $56,228.60. However, over the past week, it has seen a decline of 17.03%. The trading volume for Bitcoin in the last twenty-four hours was $70.8 billion, constituting 29.72% of the total cryptocurrency trading volume. In the past week, its price varied from $49,486.91 to $66,825.59.

Currently, Bitcoin remains 25.00% below its all-time high of $73,740.90, which was recorded on March 14.

In other cryptocurrency markets, Ethereum was priced at $2,461.49, reflecting a 7.41% increase for the day. Tether USDt was trading at $1.0004, showing a slight gain of 0.02%.

Ethereum’s market capitalization stood at $295.8 billion, making up 15.53% of the overall cryptocurrency market cap, while Tether USDt had a market cap of $114.6 billion, representing 6.02% of the total cryptocurrency market value.