Crypto market update: Bitcoin rises 3%+ in three hours

Ethereum also recovers to rise above $4,000

Bitcoin returned above $60,000 (£43,637, €51,689) on Thursday, having spent only 24 hours below the psychological threshold. 

Indeed, the share price of the world’s first and largest cryptocurrency rose by 3.23% in the space of three hours on Thursday morning to reach $61,228. 

Bitcoin’s market capitalisation rose by 4% in the space of 24 hours to reach $1.15trn (£840bn), while its trading volume stood 7.7% lower at $40.4bn. 

Impact on other cryptos

The capitalisation of the total cryptocurrency market stood $100bn higher in the past 24 hours at $2.58trn, according to CoinMarketCap. Although $100bn below the all-time high reached exactly a week before, the metric has risen by $700bn over the past month. 

Ethereum traded up by 3.31% at $4,146.06 as at 12:30 BST, $190 off the record high reached seven days earlier. The market capitalisation of the second-largest cryptocurrency by market value stood 3.9% higher at $489.5bn, while its trading volume suffered an 8.51% drop to $23.7bn. 

Among the other prominent cryptocurrencies, popular meme-inspired coins such as Shiba Inu and Dogecoin enjoyed the largest gains, rising by 42.6% and 22.5%, respectively, as at 12:30 BST. 

Bitcoin to US Dollar
Daily change
36145.9
Low: 35750.9
High: 36743.7

Further reading: Twitter slumps despite meeting Q3 expectations

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