Cryptocurrency News
Bitcoin’s price surged above $97,000 per coin on Wednesday, signaling renewed optimism among investors after a recent drop.
On Wednesday, the leading cryptocurrency briefly reached $97,360 before retreating to $96,320, according to data from CoinGecko.
Last week, Bitcoin was on the cusp of $100,000 but fell just short, hitting a new all-time high of $99,645. In the past 24 hours, Bitcoin’s price has risen by more than 5%.
Ethereum also saw a significant price increase, reaching $3,647, its highest level in five months. The second-largest cryptocurrency now trades at $3,625, up 9% over the past day.
While Ethereum struggled to match Bitcoin’s gains, it is experiencing a resurgence in investor interest. However, Ethereum still needs to climb 25% to surpass its 2021 peak of $4,878.
Dogecoin, Elon Musk’s favored cryptocurrency, also saw a price spike, rising by nearly 5% to over $0.40 after dropping below $0.37 on Tuesday.
The meme coin’s value surged following Musk’s recent endorsements and speculation surrounding his involvement in a potential government role related to Dogecoin. The entire cryptocurrency market has increased by almost 5% in the last day, reaching a collective market cap of nearly $3.5 trillion.
Edited by Andrew Hayward
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