Cryptocurrency Markets Gain $70 Billion Following a $4K Daily Surge in Bitcoin (BTC) Value (Market Update)

Bitcoin's price surged over $4K within 12 hours, bringing an abrupt end to its recent price correction. This increase, along with notable gains in several altcoins, contributed to the cryptocurrency market's $70 billion rise.

The positive trend aligns with the recent announcement of a forthcoming meeting between U.S and China regarding their ongoing trade war. Bitcoin's market capitalization is nearing $1.93 trillion, and it continues to dominate the market with a 62% share. Meanwhile, Litecoin (LTC) rebounded with a 13% surge after the SEC delayed its decision on an LTC ETF application.

Other cryptocurrencies like HYPE, CRO, AAVE, SUI, LINK, DOGE, ADA, BCH, and HBAR also reported gains. The total crypto market cap now stands above $3.1 trillion.