Bitcoin is still trading comfortably above the $50,000 mark, which it soared past at the start of the week. The biggest digital coin by market cap is now priced at $51,959, having risen by more than 10% over seven days.
The asset started off strong when it hit $50K on Monday for the first time since December 2021. The price rise, analysts toldDecrypt, was down to big investors hoarding the cryptocurrency and a renewed interest from Wall Street in the tech industry.
The Securities and Exchange Commission in January approved ten spot Bitcoin exchange-traded funds (ETFs). Since their approval, the asset’s price dipped at first, but has since made a comeback.
The price of Bitcoin did drop on Valentine’s Day after a report from the U.S. Labor Department showed that inflation was higher than expected last month.
But the hearbreak was temporary, and the “digital gold” continued to rise through Wednesday, Thursday, and Friday, spending most of its time bumping up against $52K.
As always, the rest of the crypto market surged along with Bitcoin’s rise. Ethereum, the second biggest digital asset, is now up more than 11% over the past week. The price of ETH stands at $2,792.
Meanwhile Solana, the fifth biggest asset, shot up and knocked Binance’s BNB Coin from the fourth spot—albeit temporarily. Solana is now trading for $109.71, closing about where it started the week.
Meme coins also had a moment: Bonk, Pepe, and Dogwifhat all rose and are still up significantly over the past seven days.
Investors seem mostly focused on Bitcoin, though, as the long-awaited halving event fast approaches, and institutional interest in the newly approved ETFs brings a flood of capital into the space.
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
StartupNews.fyi is a leading global startup and technology media platform known for its end-to-end coverage of the startup ecosystem across India and key international markets. Launched with the vision of becoming a single gateway for founders, investors, and ecosystem enablers, StartupNews.fyi has grown steadily over the years by publishing tens of thousands of verified news stories, insights, and ecosystem updates, reaching millions of startup enthusiasts every month through its digital platforms and communities.
Bitcoin is still trading comfortably above the $50,000 mark, which it soared past at the start of the week. The biggest digital coin by market cap is now priced at $51,959, having risen by more than 10% over seven days.
The asset started off strong when it hit $50K on Monday for the first time since December 2021. The price rise, analysts toldDecrypt, was down to big investors hoarding the cryptocurrency and a renewed interest from Wall Street in the tech industry.
The Securities and Exchange Commission in January approved ten spot Bitcoin exchange-traded funds (ETFs). Since their approval, the asset’s price dipped at first, but has since made a comeback.
The price of Bitcoin did drop on Valentine’s Day after a report from the U.S. Labor Department showed that inflation was higher than expected last month.
But the hearbreak was temporary, and the “digital gold” continued to rise through Wednesday, Thursday, and Friday, spending most of its time bumping up against $52K.
As always, the rest of the crypto market surged along with Bitcoin’s rise. Ethereum, the second biggest digital asset, is now up more than 11% over the past week. The price of ETH stands at $2,792.
Meanwhile Solana, the fifth biggest asset, shot up and knocked Binance’s BNB Coin from the fourth spot—albeit temporarily. Solana is now trading for $109.71, closing about where it started the week.
Meme coins also had a moment: Bonk, Pepe, and Dogwifhat all rose and are still up significantly over the past seven days.
Investors seem mostly focused on Bitcoin, though, as the long-awaited halving event fast approaches, and institutional interest in the newly approved ETFs brings a flood of capital into the space.
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
StartupNews.fyi is a leading global startup and technology media platform known for its end-to-end coverage of the startup ecosystem across India and key international markets. Launched with the vision of becoming a single gateway for founders, investors, and ecosystem enablers, StartupNews.fyi has grown steadily over the years by publishing tens of thousands of verified news stories, insights, and ecosystem updates, reaching millions of startup enthusiasts every month through its digital platforms and communities.
