Bitcoin experienced a remarkable rally on Tuesday, trading at $56,662.4 by 21:08 (02:08 GMT) on the Index, marking a significant 10.08% increase in a single day. This surge represents the largest one-day percentage gain since October 23, 2023.
The upward movement propelled Bitcoin’s market capitalization to $1,093.4 billion, constituting 51.64% of the total cryptocurrency market cap. While Bitcoin’s market cap reached as high as $1,275.5 billion at its peak, the current surge signifies a strong resurgence in its value.
Bitcoin’s price fluctuated within a range of $54,464.0 to $56,844.8 in the preceding twenty-four hours, showcasing the cryptocurrency’s volatility during this period.
Over the past seven days, Bitcoin has demonstrated a positive trend, posting a 7.78% gain in value. The trading volume for Bitcoin in the twenty-four hours leading up to the reported time was $36.7 billion, contributing to 40.96% of the total volume of all cryptocurrencies. Throughout the last week, Bitcoin’s price ranged between $50,537.6016 and $56,844.7734.
Despite the recent surge, Bitcoin remains down by 17.87% from its all-time high of $68,990.63, which was recorded on November 10, 2021. The cryptocurrency’s current performance highlights the ongoing volatility in the digital asset market and its potential for significant price movements.