Bitcoin crosses $91,000 mark today: Here we decode why
What's the story
Bitcoin has crossed the $91,000 mark today, hitting new highs amid global economic uncertainty. The world's largest cryptocurrency witnessed a massive spike as traders liquidated Bitcoin worth $60 million within an hour. In the last 24 hours, Bitcoin hit a high of $91,431.62 according to CoinMarketCap data. At the time of writing, it was trading at $91,357.32, up by 0.84%.
Market trends
A look at Ethereum's rise
In the last seven days, Bitcoin has risen by some 4%, indicating a risk appetite among investors. Ethereum, the world's second-largest cryptocurrency, also rose by over 0.7% in the last 24 hours. It hit a high of $3,147.98 according to CoinMarketCap data during this period.
Altcoin performance
Other cryptocurrencies follow Bitcoin's lead
Other cryptocurrencies such as Tether, XRP, Solana, Dogecoin as well as Binance Coin also followed the Bitcoin's lead. This shows a broader bullish sentiment in the cryptocurrency market today. The strong performance of these altcoins indicates that the strength shown by Bitcoin is spilling over into the wider crypto ecosystem.