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Bitcoin Price Jumps by 11% to Reach One-Month High Above $6.9k

Bitcoin's price spiked by 11 percent in just two hours on Monday, climbing above $6,900 for the first time in a month.

Na-update Set 14, 2021, 1:53 p.m. Nailathala Okt 15, 2018, 6:56 a.m. Isinalin ng AI
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Bitcoin, the world's largest cryptocurrency by market capitalization, jumped by 11 percent on Monday, pushing prices above $6,900 for the first time in a month.

CoinDesk's Bitcoin Price Index shows that ,just after 5:00 UTC on Monday, bitcoin saw a sudden spike of $400 over the course of 60 minutes, and reached as high as $6,960 by 6:45 UTC – a level not seen since Sept. 6.

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As of press time, bitcoin's price has dropped back slightly to around $6,800.

coindesk-bpi-chart-153

Meanwhile, the overall cryptocurrency market has also seen a similar rebound roughly at the same time.

According to data from CoinMarkCap, total crypto market capitalization saw a sudden jump right after 5:00 UTC and climbed above $207 billion before 6:00 UTC, recording a 3 percent growth within 60 minutes.

The top 10 cryptocurrency assets by market capitalization are also showing 2–8 percent gains over the last 24 hours with ethereum, XRP and bitcoin seeing the biggest increases so far.

Also notably, among the top 10 crypto assets, USDT, the U.S. dollar-pegged cryptocurrency launched by startup Tether, is the only asset that is experiencing a decline. The token is down more than two percent at press time, marking a yearly-low at $0.96.

Roller coaster image via Shutterstock

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Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch

Solana CME futures first-day activity compared to BTC and ETH debuts. (CME/K33 Research)

When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.

Ce qu'il:

  • Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
  • Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
  • Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.