Bitcoin’s price briefly surpassed the $107,000 mark in global cryptocurrency markets before pulling back as retail investors engaged in profit-taking. The leading cryptocurrency later stabilized at $106,500, while Ethereum remained close to the $4,000 level. Analysts predict that Ethereum could soon break through this threshold given the current market conditions.
Tuesday saw the global cryptocurrency market capitalisation settle at $3.73 trillion, a 0.30% decrease over the previous day due to price volatility. CoinMarketCap.com statistics shows that the total trading volume in the cryptocurrency market fell by 12.70% to $191.55 billion. Stablecoin transactions totalled $175.63 billion, or 91.69% of total activity, while the decentralised finance (DeFi) sector accounted for $12.59 billion, or 6.57%, of the 24-hour trading volume.
Bitcoin (BTC-USD) surged to a record high of $107,780 before declining to $106,064 in late trading, up 2.9% for the day. Trading volume for Bitcoin more than doubled, reaching $96 billion within 24 hours.
Ethereum (ETH-USD) saw a 4% gain, trading at $4,048. Other major cryptocurrencies also recorded mixed results: XRP (XRP-USD) rose 2.7%, BNB (BNB-USD) added 1.1%, and Cardano (ADA-USD) climbed 1.2%. Conversely, Solana (SOL-USD) fell 1.9%, and Dogecoin (DOGE-USD) edged up by 0.2%.
While the five-year rate increased little to 4.252% from the previous day’s 4.246%, the US 10-year Treasury yield stayed stable at 4.395% in conventional financial markets. The performance of the equity markets was mixed, with the Dow Jones Industrial Average declining by 0.2%, the S&P 500 increasing by 0.4%, and the Nasdaq 100 growing by 1.2%.
