Cryptocurrency Bitcoin sets an absolute price record for the first time since 2022

On the evening of October 23, the flagship crypto asset tested the $ 31,000 level. Later, however, the price of bitcoin rose even higher — by 11.7%, testing $ 35,000.

At the local peak, the market value of the main cryptocurrency reached $ 35,280 (BTC/USDT pair, Binance cryptocurrency exchange).

At the time of writing, bitcoin is trading at $ 34,055, an increase of 10.14%. The market capitalization reached $ 664.7 billion, and traders made daily trading deals worth $ 46.6 billion. The market dominance of BTC increased to 52.9%.

The phenomenal growth of bitcoin is taking place amid expectations that the US Securities and Exchange Commission (SEC) will approve the first spot ETF. According to experts, this should attract new capital to the market in the amount of at least $ 30 billion to $ 50 billion. Analysts believe that the approval of ETF-BTC will significantly increase the value of bitcoin in the future.

The flagship virtual coin has pushed other cryptocurrencies to grow, but no altcoin from the top 10 has surpassed BTC in terms of daily growth rates.

Overall, the global market capitalization grew by 7.27% per day to $ 1.25 trillion, while the volume of daily transactions soared by 65.63% to over $ 81.44 billion.