$BTC Bitcoin price is in the green zone, surging by nearly 2% over the last 24 hours to trade at $119,380. According to the price aggregator, the largest cryptocurrency has spiked with daily trading volumes settling at $50 billion, an 8.72% decline in 24 hours.
At current prices, Bitcoin is only 2.88% from its all-time high of $123,091 that it set on July 13. The latest price spurt comes as Bitcoin’s hashrate reached a new peak of 932 EH/s with network difficulty at 127.62T.
Early in the day, Strategy’s Bitcoin buy signal may have stoked optimism for an incoming rally as a stream of institutional investors expresses a keen intention to accumulate the largest cryptocurrency.
A glance at the charts reveals that Bitcoin’s price spurt is leaving a ripple effect across the cryptocurrency markets. BNB reached a new all-time high of $825 while Ethereum is trading well above the $3,825 mark.
Ethereum CME futures open interest hit a record high of $7.85 billion amid a barrage of institutional interest. Meanwhile, the global cryptocurrency market capitalization is pegged at $3.94 trillion and is within touching distance of the $4 trillion mark, driven by Bitcoin.
