Bitcoin Rallies to Nearly $87K as Crypto Market Sees Strongest Stretch in Months

The crypto market has seen its strongest stretch in months, with Bitcoin nearing $87,000 after gaining nearly 14 percent in a week.

Bitcoin's current price of around $86,500 is its highest level since January and marks an impressive recovery from the end of June when it dropped below $60,000. The largest cryptocurrency has risen by almost 50 percent since then.

Ethereum is also moving up, trading at just over $2,750 with a weekly gain of almost 15 percent. The CoinMarketCap 20 Index has gained more than 15 percent over seven days.

Some altcoins are climbing even faster, led by NEAR Protocol, Uniswap, and Bitcoin Cash, which have seen significant gains in the past week. In fact, NEAR Protocol has nearly doubled in value within a week with a weekly gain of 91 percent.