Bitcoin breaks through $ 71,000 mark

The cryptocurrency market is experiencing significant growth, adding 4.71% over the past day. The market capitalization reached $ 2.4 trillion, and trading volumes jumped to $ 99.66 billion, indicating increased activity and interest from traders. The «fear and greed» index is at 60, indicating a predominantly optimistic investor sentiment. At the same time, the price of Bitcoin BTC $103,753.43 Bitcoin -3.76% Market capitalization $2.05 trillion VOL. 24 hours $3.67 billion crossed the $ 71,000 mark, Ethereum ETH $3,839.93 Bridged Ether (StarkGate) -4.19% Market capitalization $0.34 billion VOL. 24 hours $1.88 billion added 5.52%, and Dogecoin DOGE $0.13 Department Of Government Efficiency -5.72% Market capitalization $0.13 billion VOL. 24 hours $0.69 billion grew by 15%.

Several key factors influenced the market growth. One of them is the large accumulation of bitcoins by whales. In addition, Bitcoin ETFs have attracted significant attention, attracting 47 thousand BTC over the past two weeks. Another factor was the pre-election discussion in the United States, where the likelihood of Donald Trump’s return to the presidency is driving demand for Bitcoin as a risk hedge.

Bitcoin set a new high at $ 71,013.42, adding 4.94%. Trading volumes increased by 148.71%, which contributes to further growth. The price peaked at $ 71,475 on the day, supported by large purchases of more than $ 355 million and liquidation of shorts worth $ 143 million. This created strong support for the asset from investors who expect further growth.

Against the backdrop of Bitcoin’s growth, altcoins also showed positive dynamics. Ethereum grew by 5.52% to reach $ 2,618, while Solana rose by 3.74% to $ 181.46. XRP also strengthened by 2.15% to trade at $ 0.5236. This overall positive trend is stimulating enthusiasm among investors in altcoins.