NEW YORK: Bitcoin led a major rally for cryptocurrency prices and related stocks on Tuesday as it bolted above $57,000 for the first time since November 2021, reports said.
Bitcoin on Tuesday morning traded above $57,000 after briefly touching $57,430 -- running further up against its late 2021 levels. The world's largest cryptocurrency jumped nearly 11 per cent over the last 24 hours, according to CoinDesk data, the Investor’s Business Daily reported.
In addition, mid-February bitcoin's market capitalisation crossed the $1 trillion mark for the first time in more than two years. Bitcoin is now up 34 per cent so far this year, with most of the gains coming after the spot bitcoin ETF launches in early January.
Ethereum surged about 6.8 per cent in the 24 hours to Tuesday morning, trading around $3,280. That's its best level since April 2022. ETH peaked at $3,289 in early Tuesday trade. The No 2 crypto spiked almost 44 per cent in 2024, the report said.