BTC Rescues Cryptocurrency Market from Slumber
CryptoNewsTerminal Staff05 Aug, 2024
BTC Rescues Cryptocurrency Market from Slumber
Bitcoin (BTC) has risen over 5% in the past 24 hours, bouncing off the $54,000 support level and dragging the rest of the cryptocurrency market higher. The leading cryptocurrency is currently changing hands at $56,500 on the Binance USDT market, with a market capitalization of $1.1 trillion. BTC's rally has been attributed to a number of factors, including: Increased institutional adoption Growing demand from retail investors * Positive news from the regulatory front Analysts believe that BTC is well-positioned to continue its rally in the coming weeks and months. Some are even predicting that BTC could reach $100,000 by the end of the year.
