Bitcoin is approaching a historic high

The flagship crypto asset BTC $62,665.94 Bitcoin -0.36% Market capitalization $1.24 trillion VOL. 24 hours $1.27 billion has soared to new heights, breaking the $ 57,000 dollar mark early Tuesday morning. This price level, which hasn’t been seen since November 2021, marks a significant revival of the leading cryptocurrency.

It is noteworthy that the jump in bitcoin’s price has led to significant activity on US spot bitcoin ETFs, with the exception of Grayscale’s GBTC. According to Bloomberg, on Monday, the trading volume of these exchange-traded funds reached a record $ 2.4 billion. This surge in trading activity underscores the growing interest and involvement of institutional investors in the cryptocurrency market.

At the time of publication, bitcoin has slightly decreased to $ 56,132, but the main cryptocurrency is still showing a phenomenal growth of almost 10% compared to the previous day. Since the beginning of the year, the price of bitcoin has risen by more than 30%, continuing a protracted surge that has also spurred speculators' interest in smaller currencies such as ETH $3,446.62 Ethereum -0.88% Market capitalization $414.25 billion VOL. 24 hours $0.55 billion and SOL $148.25 Solana 0.58% Market capitalization $68.61 billion VOL. 24 hours $0.31 billion .

As for the total capitalization of the cryptocurrency market, it has added 6.7% to $ 2.13 trillion so far this year. Overnight, cryptocurrency transactions increased by a staggering 112.3% to $ 108.3 billion. BTC’s market share was 51.9%, while Ethereum’s was 18.2%. The fear and greed index rose to 76 points.