Bitcoin Skyrockets to $65,000 — Inches Closer to All-Time High

Bitcoin in dollar terms has once again edged past the $65,000 level in incredible fashion, rising to new levels after late weekend’s rally pushed it onwards to within touching distance of 2021’s all-time high of $69,044. At the time of writing, the world’s largest cryptocurrency by market cap briefly edged $65,420, according to CoinGecko. It was trading somewhere above $65,550 and the frequent buy-out orders from a number of rookie investors suggest that the valuation may soon break its previous record. Due to BTC’s surge, the global cryptocurrency market cap today is at $2.56 trillion, up 5.24 percent in the last 24 hours and 139.4 percent higher compared to the same period last year. As of today, the market cap of Bitcoin (BTC) is at $1.29 trillion, representing a Bitcoin dominance of 50.2 percent. Meanwhile, Stablecoins’ market cap is at $144 billion and has a 5.61 percent share of the total crypto market cap. The second biggest coin Ethereum, which instituted a deflationary mechanism in early August 2021, has surged almost 4 percent in the last 24 hours, trading blows at $3,524 at the time of writing this post. Meanwhile, BTC has hit new ATH in other global currencies. In European markets, the flagship coin hit €59,901.25, the highest level ever recorded in the continent since €59,716.82 seen in November 2021.