Crypto Market Surges to New High on Bitcoin Rally

The global cryptocurrency market capitalization has reached its highest level in over seven months, surging to nearly $2.82 trillion on Thursday.

This marks a significant recovery from the sharp sell-off in January, when the total market cap fell from around $3.4 trillion to around $2.3 trillion.

Bitcoin broke above $81,000, rising 5.4% at publication time, while major altcoins such as Cardano and Dogecoin also posted significant gains.

Zcash's native token led the day's gains among top 50 cryptocurrencies, jumping 16.5%, with XRP climbing roughly 10%.

The rally spilled over into crypto-related equities, with Bitcoin treasury company leader Strategy (MSTR) and USDC stablecoin issuer Circle (CRCL) gaining 15%, while crypto exchange Coinbase (COIN) rose around 10%.