With the continued positive performance of the cryptocurrency market, the price of Bitcoin is nearing the 100,000 dollar barrier for the first time since February, while the price of Ethereum has reached its highest monthly level exceeding 1900 dollars.
Having fallen below 75,000 dollars about a month ago due to geopolitical tensions between the United States and other countries, Bitcoin has gradually recovered, adding about 20,000 dollars to its value over the past two weeks.
Despite facing resistance around the 98,000 dollar level, and then dropping to below 94,000 dollars recently, Bitcoin regained momentum again surpassing the 96,000 dollar level.
Despite the Federal Reserve's decision to keep interest rates unchanged, the price continued to rise in the past hours, likely supported by positive statements from the U.S. president regarding upcoming trade talks.
This momentum has driven Bitcoin close to the 100,000 dollar level, raising its market value to about 1.98 trillion dollars.
In contrast, its market dominance has dropped to below 62% according to CoinGecko data.
On the other hand, Ethereum successfully broke through the resistance level at 1850 dollars, reaching its highest monthly level at over 1900 dollars.
Despite the previous decline against Bitcoin and the dollar during the first half of last year, it has shown a noticeable improvement recently.
Other alternative cryptocurrencies also recorded varying gains; the prices of XRP, SOL, ADA, TRX, AVAX, and XLM rose by between 2% and 4%, while DOGE, LINK, and SUI increased by up to 7.5%.
The top gainers were BCH and PEPE, which recorded increases of 11% and 12.5% respectively.
Overall, the market capitalization of cryptocurrencies increased by about 100 billion dollars in one day, reaching 3.2 trillion dollars according to CoinGecko data.
