Wednesday, May 22, 2024

Markets Surge as Bitcoin Flirts With $50,000

Ether is buying and selling above $2,600, posting double-digit positive factors on the week.

Monday has introduced a sea of inexperienced to the crypto markets, as Bitcoin tops the $50,000 mark for the primary time since Dec. 2021.


The highest crypto asset briefly reached $50,256, according to Coingecko, however has since retraced barely beneath the $50K mark, marking a powerful 17% acquire over the previous seven days. Its market cap is close to $1T, presently sitting at $980B.

BTC Price chart
BTC Price

Fueling the widespread rally appears to be experiences that spot Bitcoin ETFs proceed to draw substantial inflows. Cash additionally seems to be rotating into different crypto property as traders pile into altcoins.