Bitcoin’s price briefly exceeded the $107,000 mark in global cryptocurrency markets before retreating due to profit-taking by retail investors. The world’s leading cryptocurrency later stabilized at $106,500, while Ethereum hovered near the $4,000 threshold. Analysts anticipate that Ethereum could soon surpass this level given current market conditions.
Amid price volatility, the global cryptocurrency market capitalization settled at $3.73 trillion on Tuesday, reflecting a 0.30% decline over the past 24 hours. Total trading volume across the crypto market reached $191.55 billion, marking a 12.70% decrease, according to data from CoinMarketCap.com. The decentralized finance (DeFi) sector accounted for $12.59 billion, or 6.57%, of the 24-hour trading volume, while stablecoin transactions totaled $175.63 billion, representing 91.69% of overall activity.
Bitcoin (BTC-USD) surged to a record high of $107,780 before declining to $106,064 in late trading, up 2.9% for the day. Trading volume for Bitcoin more than doubled, reaching $96 billion within 24 hours.
Ethereum (ETH-USD) saw a 4% gain, trading at $4,048. Other major cryptocurrencies also recorded mixed results: XRP (XRP-USD) rose 2.7%, BNB (BNB-USD) added 1.1%, and Cardano (ADA-USD) climbed 1.2%. Conversely, Solana (SOL-USD) fell 1.9%, and Dogecoin (DOGE-USD) edged up by 0.2%.
In traditional financial markets, the US 10-year Treasury yield remained steady at 4.395%, while the five-year yield rose slightly to 4.252% from the previous day’s 4.246%. Equity markets showed mixed performance, with the Nasdaq 100 rising 1.2%, the S&P 500 gaining 0.4%, and the Dow Jones Industrial Average slipping by 0.2%.
