Over the past day, the price of bitcoin has increased by more than 8%, returning to levels above $20,000.
At the time of writing, digital gold is trading in the $20,250 region.
The second largest cryptocurrency by capitalization has come close to the level of $1,400, near which it was last traded on September 21.
Flagship crypto assets have revived the rest of the market. The top 20 coins by market capitalization look like this:
Uniswap’s UNI token showed the highest growth over the past day – 18.1%. Solana (SOL) and Polkadot (DOT) gained 8.9%.
The total market capitalization reached $1.01 trillion, according to CoinGecko.
According to Glassnode on-chain analysts, short-term investors are currently suffering significant losses. Hodlers are holding firm, and many metrics point to a “market cycle detox.”
On September 21, Bitcoin reacted with a sharp correction to the increase in the key rate of the US Federal Reserve.
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I am a writer and editor at the World Stock Market. I have been working in the financial industry for over 7 years, most recently as an author at a large bank. I have experience writing articles on topics such as market analysis, investment advice, and stock picks. I also have experience editing content for other websites.