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.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/bitcoin-briefly-hits-80000-amid-increased-market-volatility/