Bitcoin Price Regains Strength Above $41K, Crypto Market Cap Jumps 6% in 24 Hours
Crypto assets have climbed in value during the last 24 hours as the price of bitcoin tapped a high on Friday, reaching $42,411 per unit at 8:00 p.m. (EDT). The entire market capitalization of all 10,000+ crypto assets is $1.64 trillion on Saturday, up over 6% during the last day. Bitcoin Climbs Over 20% This Week
The price of bitcoin (BTC) and a number of other digital assets have climbed higher in value during the last few days. Five days ago, a massive short squeeze propelled the price of bitcoin higher as it jumped just below the $40K handle from a low of $34,500 per unit. Bybit.com’s Liquidation Data.
Similarly, there was also a large derivatives expiry on Friday ending the month of July and at around 8:00 p.m. (EDT) a swathe of short positions were liquidated. During the course of the last day, $284.7 million worth of positions were liquidated according to bybt.com’s Liquidation Data.
After 8:00 p.m., the price of bitcoin (BTC) quickly spiked to $42,411 per unit and has remained above the $41K handle since then. BTC is up over 7% today and over 20% during the last seven days. Out of the entire $1.64 trillion, bitcoin’s (BTC) market cap captures 47.66% of the aggregate with $781 billion. BTC/USD chart on July 31, 2021, via Bitstamp.
BTC has around $33 billion in global trade volume on Saturday with tether (USDT) commanding 59% of all trades. This is followed by USD (12.29%), BUSD (5.85%), JPY (4.34%), and EUR (3.41%). At the time of writing, BTC is exchanging hands for $41,522 per unit. Ethereum Spikes 12% This Week, Easyfi Jumps Over 2,800%, Tether Captures 47% of Global Trade Volume
The second-largest crypto asset, in terms of market cap, is ethereum (ETH) up over 5% during the last day. ETH has gained 12% during the last seven days and at press time ETH is swapping for $2,455 per unit. ETH/USD chart on July 31, 2021, via Deribit.
The biggest gainers during the last seven days include the coins easyfi (EASY) up a whopping 2,854%, flexacoin (FXC) up 706%, and omix (OMX) up 500% this week. The biggest weekly losers include beetle coin (BEET) down 83%, chip (CHIP) down 54%, iov blockchain (IOV) down 51%.
The biggest 24-hour gainer among the top ten largest crypto assets, in terms of market valuation, is polkadot (DOT) which is up 12% today and 20% during the last week. Out of the $1.64 trillion worth of crypto assets, the reported trade volume on Saturday is $84 billion. Tether (USDT) reportedly commands $57 billion or 47.36% of today’s global trade volume among all the crypto assets recorded.
What do you think about the recent crypto run-up and improved prices? Let us know what you think about this subject in the comments below. Market Strategist Says Bitcoin"s Best Days Are Ahead, Won"t See Restrictive Fed Policy Anytime Soon MARKETS AND PRICES | 5 days ago Massive Short Squeeze Pushes Bitcoin Closer to $40K, Crypto Economy Jumps 9% Higher MARKETS AND PRICES | 5 days ago Tags in this story Bitcoin, Bitcoin Price, BTC, Crypto Prices, cryptocurrency markets, Easyfi, ETH, Ethereum, Gainers, IOV blockchain, Losers, Market Cap, Market Update, Markets, Percentages, price of bitcoin, Prices, Saturday Trading, Weekend Markets
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