Bitcoin Surges Past $64K as Cryptocurrency Market Capitalization Hits $2.19T

The cryptocurrency market capitalization has surpassed $2.19T for the second day in a row, matching levels seen at the end of last week.

Despite the weakening correlation between cryptocurrencies and US equities, which is now often negative, investor interest remains high due to a weakening dollar and falling oil prices.

The market's 50-day moving average continues to be a key battleground for bulls and bears, indicating that no clear medium-term trend has emerged yet.

Bitcoin has risen to $64.3K, gaining momentum since Monday when it dipped to local lows around $62.5K but was pushed back above its 50-day moving average by strong buying pressure.