Bitcoin Climbs to $58,000 as Crypto Investors Return
Bitcoin (BTC-USD) climbed above $58,000 level on Monday, gaining 22 basis points due to the return of retail investors in the space.
Earlier negative price movement in the world largest crypto asset, Bitcoin, had dragged the entire valuation of all cryptocurrencies down to 2 trillion. Investors left the crypto market due to strong bearish trend.
Briefly, Bitcoin dipped to $57,500 before it started gaining momentum. BTCUSD had reached $63,000 level in the recent week before it retraced.
According to CoinMarketCap.com, the global crypto market cap is $2.06 trillion, up by 0.9%. The total crypto market volume over the last 24 hours reached $61.24 billion, which makes a 67.51% increase over the day.
The total volume in DeFi is currently $3.01B, 4.91% of the total crypto market 24-hour volume. The volume of all stable coins is now $56.33B, which is 92.00% of the total crypto market 24-hour volume.
BTCUSD dropped by 8.3% in 7 days, with majors Solana, XRP and Cardano falling spiraling downward as well.
Dogecoin has lost more than 107% to lead losses among the largest cryptocurrencies, while the broad-based CoinDesk 20 Index (CD20), a liquid fund tracking the largest tokens, fell 1.88%.
U.S.-listed exchange-traded funds (ETFs) tracking BTCUSD posted total net outflows of $175 million on Friday, extending a losing streak to four days.
Ether ETFs had zero net inflows or outflows despite $173 million in trading volume, data tracked shows. Last week major digital assets were weaker late Friday, with bitcoin (BTC-USD) falling below the $59,000 level.
The CoinDesk Market Index, which tracks 134 digital assets, edged down 0.3% while the Nasdaq 100 rose 1%, the S&P 500 climbed 0.6%, and the Dow Jones Industrial Average advanced 0.2%.
Bitcoin (BTC-USD) fell 1.4% to $58,756 with a trading volume of $33.8 billion, up 1.7%, according to CoinMarketCap data. The most popular cryptocurrency was poised to end August with a loss of more than 10% for the month.
Ethereum (ETH-USD), the second-largest digital asset, was down 1.4% at $2,500, with a monthly loss so far of over 23%.
BNB (BNB-USD), the third-largest digital asset by market value excluding stablecoins, dipped 1%, while Solana (SOL-USD), the fourth-largest, shed 3.7%.
XRP (XRP-USD) was 0.6% lower and Cardano (ADA-USD) lost 3.1%, while Dogecoin (DOGE-USD) rose 0.7%.
The total market value of the cryptocurrency industry decreased 1.1% to $2.07 trillion on Friday while trading volume grew 4% to $71.56 billion. # Bitcoin Climbs to $58,000 as Crypto Investors Return
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