Cryptocurrency Rallies Pushed Bitcoin Price to $48,000
Most major digital assets advanced again Friday, with bitcoin (BTC/USD) briefly crossing the $48,000 threshold.
The CoinDesk Market Index, which tracks 189 digital assets, was up 4% in the past 24 hours while the Nasdaq 100 and the S&P 500 rose 1% and 0.5%, respectively, and the Dow Jones Industrial Average declined 0.1%.
Bitcoin (BTC/USD), the largest cryptocurrency by market value, was up 4.8% in the past 24 hours at $47,604 after reaching a day’s high of $48,152, according to CoinMarketCap data. Trading volume was $38.86 billion, up 43%.
The most popular cryptocurrency is on pace to conclude the week with a gain of 11%.
Ethereum (ETH/USD), the second-largest digital asset, was trading 2.8% higher at $2,494 and headed for a weekly gain of 8.4%.
BNB (BNB/USD), the third-largest digital asset by market value excluding stablecoins, was up 1.4% and Solana (SOL/USD), the fourth-largest, rose 2.3%.
XRP (XRP/USD), Cardano (ADA/USD), and Avalanche (AVAX/USD) rose 2%, 2.3%, and 7.1%, respectively. Dogecoin (DOGE/USD) increased 1.4%.
The US 10-year Treasury yield closed at 4.185% on Friday, compared to 4.166% Thursday, while the five-year Treasury yield closed at 4.149%, up from 4.121% a day ago.
The total market value of the cryptocurrency industry was up 3.7% over the last 24 hours at $1.79 trillion. The total trading volumes increased 26% to $70.93 billion. #Cryptocurrency Rallies Pushed Bitcoin Price to $48,000#
