Bitcoin Surmounts $80,000 as Global Crypto Market Capitalisation Hits $2.86 Trillion
Bitcoin reclaimed the $80,000 mark and Ethereum neared $2,620 despite a hawkish Federal Reserve decision. The rebound reflects improving risk sentiment and positioning, according to Riya Sehgal Research Analyst at Delta Exchange.
The global crypto market capitalisation rose by 4.1% to $2.86 trillion on Saturday, according to Coingecko data. Over the past week, Bitcoin gained 4.9%, while Ethereum rose 4.6%. Major altcoins such as BNB, XRP, Solana, Tron, Hyperliquid, Dogecoin and Cardano also saw significant gains.
Nischal Shetty, founder of WazirX, attributed the stability in Bitcoin and Ethereum to spot demand and derivatives positioning absorbing part of the selling. However, elevated rates, regulatory uncertainty, and expensive oil kept the weekly outlook balanced.