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Bitcoin’s Best Week in Three Months

The cryptocurrency behemoth, Bitcoin (BTC), rose above $20,000 and welcomed the bull to the market. Naturally, the global cryptocurrency market saw a gradual upward trend, reclining the $1 trillion mark. The market cap of all cryptocurrencies is $1.05 trillion, which surged by around 3% in the last day.

Currently, Bitcoin is trading at $20,726.47, a 2% increase in the last 24 hours. And the 7% increase in Bitcoin since Sunday is the most significant weekly price rise in the last three months. Ethereum, too, surged by 21% in the last week.

The latest US government report revealed that the Federal Reserve’s preferred inflation surged slower than expected last month, rising Bitcoin on Friday.

What followed the $69k price range in November 2021 was a drop to $17k in June this year. However, BTC is doing comparatively well and trading in a narrow range between $20k and to 23k.

BTC gained 8% in the last two weeks and 6% last month and holds a market share of 40%, the market cap being $396 billion. Additionally, Ethereum’s price jumped nearly 21% in just seven days, with a market share of 20%. Currently, ETH is trading at $1,584.48, which surged about 4% in the last 24 hours and 22% in the last 14 days.

Other significant cryptocurrencies like Binance (BNB), Cardano (ADA), Solano (SOL), and Dogecoin (DOGE) are performing exceptionally well, with DOGE surging more than 45% in the last two weeks.