Bitcoin's value soared past $93,000, marking a significant milestone in the cryptocurrency's journey. This unprecedented spike is a sign of the growing acceptance and integration of digital currencies into mainstream financial systems. The positive movement of SHIB brought along the rest of the crypto market, indicating a shift toward more bullish investor sentiment and higher trading volumes.
Bitcoin’s trading volume recorded a significant 15% rise, surging to $51.95 billion. READ MORE Cryptographic planned peak of $93,462 an impending bullish stage on the market.
Ethereum had a good day, up 5.5% to $1,783. Cardano rose 6.5% during this time, whereas BNB fell by 0.8%.
The total cryptocurrency market cap rose to $2.92 trillion. This valuation is indicative of strong investor sentiment and increased market activity throughout the digital asset ecosystem. The CoinDesk Market Index followed this positive trend, up 2.6%.
The long awaited return of the Fed to traditional markets was foreshadowed by the crypto rally, with the Nasdaq 100 closing up over 2.6%. The S&P 500 joined in the good times, up 1.8%. Surprisingly, the Treasury yields, specifically the US 10-year Treasury yield, have declined. This decline commonly causes greater inflows into riskier assets like crypto.
The combined crypto market’s total trading volume was $133.6 billion. This massive number shows a robust level of participation and liquidity in the digital asset ecosystem.
