menuIcon
$ 106,719.5
BTC
$ 106,719.5
1.34 %
$ 2,475.32
ETH
$ 2,475.32
0.88 %
$ 0.7511
ADA
$ 0.7511
3.42 %
$ 668.09
BNB
$ 668.09
3.76 %
$ 167.12
SOL
$ 167.12
1.30 %
Sonakshi Saxena
Dec 4, 2023
by Sonakshi Saxena

Bitcoin Surges Close to $41K – Bull Run Confirmed!

Bitcoin hits $41K

Table of contents

  1. Crypto Market Soars: $1.59T Valuation, Bitcoin Dominance 50.04%
  2. Bitcoin Rally Fueled by Optimism, Analysts Predict Continued Growth
Bitcoin has surged past the $40,000 mark, indicating the onset of an official bull run in the cryptocurrency market. Despite historical negative weekend market narratives, the world's largest digital currency has seen an upward momentum, bringing about a sense of hope and bullish sentiment in the crypto ecosystem. Bitcoin is currently trading at $40,736.61, marking a 3.38% increase in the last 24 hours and a 9.17% increase in the last 7 days.

Crypto Market Soars: $1.59T Valuation, Bitcoin Dominance 50.04%

The global crypto market valuation has reached $1.59 trillion, reflecting a 2.61% increase in the last 24 hours and a substantial 77.74% increase over the past year. Bitcoin's market cap stands at $797 billion, holding a dominance of 50.04%. Stablecoins contribute $130 billion, constituting 8.19% of the total crypto market cap. The Bitcoin Fear and Greed Index is at 74.

The crypto resurgence is not limited to Bitcoin, as Ethereum has also joined the bull market, currently trading at $2,217.08, with a 2.58% increase in the last 24 hours and an 8.18% increase in the last 7 days.

Bitcoin Rally Fueled by Optimism, Analysts Predict Continued Growth

The positive market trend follows dovish comments from U.S. central bankers and optimism surrounding the approval of a spot bitcoin exchange-traded fund (ETF). Bitcoin has more than doubled in value this year, overcoming the challenges of the "crypto winter."

Analysts predict further growth, with Matrixport research head Markus Thielen forecasting Bitcoin to be worth over $60,000 by April and $125,000 by the end of 2024. Several proposals for a spot Bitcoin ETF are pending approval, with a 90% chance of simultaneous approval by January 10, according to Bloomberg analysts. The crypto market surge has also impacted related equities in Asia, benefiting companies like Woori Technology Investment Co. and the Monex Group.

 

Follow us on: News
Bitcoin hits $41K
Bitcoin Surges Close to $41K – Bull Run Confirmed!
Sonakshi Saxena
Sonakshi is into the crypto world ever since she heard about it and is pursuing her interest through Cryptoknowmics. She is a sensational poet, technical writer and content strategist.

Top Picks