Bitcoin Gains 8.72% in 7-Day to $63.700
Bitcoin rallied by more than 8.7% in seven trading session amidst US Fed rate cut expectation, and reduce recession fear among retail investors. Ethereum also climbed by about 4.5% over the same period.
Majority of top 10 crypto currencies saw strong weekly gain except TON Coin which lost about 17.5% over the same period when other rallied.
Data across crypto exchange revealed that the world largest digital currency asset lost 0.08% or 8 basis points over the last 24 hours in the market.
Data now showing that the global crypto market cap has reached $2.24 trillion on Monday, translating to 0.24% decrease over the last day.
The volume traded in the crypto market over the last 24 hours also reach $50.6 billion, which makes a 15.46% decrease.
According to Coinmarketcap.com, the total volume in DeFi is currently $3.14 billion, accounting for 6.21% of the total crypto market 24-hour volume traded.
Setting the tone for market direction in the new week, the volume of all stable coins is now $46.28 billion, which is 91.47% of the total crypto market 24-hour volume.
Last week, most major digital assets advanced Friday with bitcoin (BTC-USD) soaring beyond the $63,000 level.
The CoinDesk Market Index, which tracks 134 digital assets, climbed 5.3% in the past 24 hours. The Nasdaq 100, S&P 500 and Dow Jones Industrial Average all were up over 1%.
Bitcoin (BTC-USD) surged 5.6% to $63,797 with a 24-hour trading volume of $36.8 billion, up nearly 18%, according to CoinMarketCap data.
The most popular cryptocurrency was on track to log a weekly gain of nearly 7%.
Ethereum (ETH-USD), the second-largest digital asset, was 5.2% higher at $2,744 and set for a weekly rise of over 4%.
BNB (BNB-USD), the third-largest digital asset by market value excluding stablecoins, edged up 0.4%, while Solana (SOL-USD), the fourth-largest, rose 4.8%.
XRP (XRP-USD) gained 1.3%, Dogecoin (DOGE-USD) surged 7.8% and Cardano (ADA-USD) jumped 5%.
The US 10-year Treasury yield closed at 3.805%, down from Thursday’s close of 3.86%, while the five-year yield closed at 3.649%, down from 3.724%. #Bitcoin Gains 8.72% in 7-Day to $63.700
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