Bitcoin Surges Past $78K as Crypto Market Cap Hits $2.74 Trillion

Bitcoin's price surge from under $65,000 to $80,000 mid-month has had a lasting impact. After briefly dipping below $75,500 last weekend, the asset rebounded during the business week and managed to push beyond $80,000 on Thursday morning when it reached $81,500 for the first time in 15 weeks.

However, this ascent was halted at $81,500, and BTC retraced hard on Friday to under $77,000. This correction occurred after Kevin Warsh's hawkish speech at Jackson Hole.

The cryptocurrency has managed to reclaim some ground since then, rising above $77,000 yesterday and up to $78,150 as of press time on Sunday morning. Its market capitalization has increased by roughly $15 billion in a day and is now at $1.570 trillion.