Bitcoin Briefly Hits $80,000 Amid Increased Market Volatility
Bitcoin briefly surged past the $80,000 mark, marking a highly volatile period in the crypto market.
The milestone, however, was short-lived as the price quickly retreated to $79,100. Despite this brief rally, Bitcoin remains down by 5% over the past 24 hours, though it recorded a 2.85% increase in the last hour. The cryptocurrency’s market cap currently stands at $1.56 trillion, with a trading volume of approximately $85.6 billion.
Ethereum also experienced significant movement, currently priced at $1,570 after a 4% increase over the past hour, though still down by 11% on the day. Its market capitalization is estimated at $189 billion, with a trading volume of $49.7 billion.
One of the most notable performers during this period was Fartcoin, which saw a 12.6% surge in the past hour, reaching a price of $0.52. Its market capitalization is currently $520 million, with a trading volume of $339 million over the past 24 hours.
The heightened volatility in the crypto market led to considerable liquidations, amounting to $1.57 billion in the last 24 hours. This includes $1.22 billion from long positions and $351.19 million from short positions. Despite the recent uptick in trading activity, the overall crypto market capitalization is down by 2.87% to $2.55 trillion.
Trading volume in the crypto space spiked dramatically, rising nearly 370% to around $200 billion in the past 24 hours, indicating heightened activity and speculative interest as investors react to the latest price movements.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
