The crypto market has regained a large portion of its capitalization as bitcoin has topped the $40,000 mark. This has given the market a much-needed boost from last month’s crash. The popular crypto has recovered over 8% in the past seven days.
According to CoinMarketCap, bitcoin is up by nearly 11% in the past 24-hours. It is trading at $41,449. Ether has nearly reached the $3,000 mark and has been up by 11.57% in the past 24-hours. You can clearly see the price correlation between the two most popular cryptos. Ethereum lovers hope the crypto will break through the resistance at $3,200 and touch $4,000 in the coming week.
However, investors who were quick to sell out their BTC and ETH have been left puzzled by the market’s sudden upward movement. Earlier in the week, BTC was struggling at the $35,500 mark and had moved forward towards $39,000. But the bears came in the way and the price once again plunged toward $36,000. But the last couple of hours has been described as dramatic as BTC has managed to climb over 6%, attaining a feat.
The market and crypto enthusiasts are jubilant. Bitcoin is over $40,000 after so many weeks of lows. The altcoins are also basking in the green. Solana has been up by 10% in the past 24-hours, XRP also gained by 10%, Terra Luna is up by nearly 14% in the past 24-hours and Cardano ADA by 8%.