Bitcoin jumps 24% in 7 days, trades above $21,000. Check Crypto Prices Today

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In cryptocurrencies, the price of Bitcoin today rose above $21,000 as the world’s largest and most popular digital token traded with gains of over 2% at $21,121 and rose increased by more than 24% in the last seven days. It broke the level on Saturday, first since Nov. 8, 2022. Bitcoin price was stuck in a tight range around $16,000-$17,000 for weeks before the latest breakout.

The overall market capitalization of the crypto universe topped $1 trillion over the weekend for the first time since early November, according to data from CoinGecko. The global cryptocurrency market capitalization today increased by more than 2% in the past 24 hours to $1.04 trillion, according to data from CoinGecko.

“Bitcoin hit $21,000 as investors are bullish it may have bottomed and inflation may have peaked. The gains came after a consumer prices report showed lower inflation figures in January. The Federal Reserve is also likely to cut interest rate increases,” said CEO and co-founder Edul Patel of Mudrex.

On the other hand, Ether, the coin linked to the Ethereum blockchain and the second largest cryptocurrency, also gained around 2% to $1,566. Meanwhile, dogecoin price was also trading up more than 2% today at $0.08, while Shiba Inu jumped more than 6% to $0.0000010 today.

Current performance of other crypto prices also improved as Tether, Stellar, XRP, Polkadot, Chainlink, XRP, Solana, Avalance, Polygon, Apecoin, Tron, Solana, Litecoin, Uniswap prices were trading with gains at the over the past 24 hours.

The Federal Reserve is on track to downgrade to lower interest rate hikes following continued price cooling, though it will likely continue to rise until pressures show more definitive signs of easing. slow-down. That helped boost risky assets like the Nasdaq 100 stock index, which has gained for six straight days.

Bitcoin is starting the year on a banner note, rising around 17% since late December. The digital token is now trading above $21,000, although it is still far from its highs of nearly $69,000 reached in November 2021.

Meanwhile, crypto companies continue to tighten their belts, with some of the biggest companies collectively cutting thousands of jobs in the first weeks of the year, according to analysis by Bloomberg.

(With agency contributions)

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