Bitcoin Surges Past $81,000 as Market Cap Hits $2.78 Trillion
The cryptocurrency market has seen a significant surge in recent hours, with Bitcoin surpassing $81,000 and major altcoins like Ethena (ENA), Injective (INJ), and VeChain (VET) experiencing double-digit gains.
The total market capitalization of digital assets reached $2.78 trillion, up 4% over the past 24 hours. Analysts attribute Bitcoin's rise to its status as a safe-haven asset amid growing US public debt, which has surpassed $40 trillion and continues to increase.
Bitcoin's technical indicators are also pointing to further gains. It recently formed a bullish flag and golden cross pattern, signaling continued upward momentum. This trend is echoed by other prominent cryptocurrencies like Ethereum (ETH), XRP, and Solana (SOL).
Altcoins like Ethena (ENA) have broken above crucial resistance levels, while Injective (INJ) has seen a notable boost following the submission of an application for a spot ETF. VeChain (VET) continues to climb, targeting the psychologically significant $0.01 level.