Bitcoin and Ethereum Reach New Highs as Crypto Market Surges

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Yesterday, on March 11th, the markets displayed a positive outlook with Bitcoin reaching new all-time highs (ATHs). The BTC price left $72,000 behind, marking a new historical peak. On the other hand, the Ethereum price also reached a new high for the period, visiting a peak not seen since 2021. The recovery of popular meme coins was also noticeable. So, what is the current situation in the crypto markets today?

Current Bitcoin Situation

The events of the past week in Bitcoin continued into the beginning of this week. Bitcoin had reached a level of $69,200 in November 2021. After a price drop, it recovered in 2024 and recently surpassed $70,000 in futures trading for the first time. Today, the Bitcoin price has climbed above the $72,000 level, achieving a new ATH.

As of this morning’s writing time, the BTC price is finding buyers at the $71,800 level after a 4.72% increase over the last 24 hours. BTC’s 24-hour trading volume has increased by 76%, surpassing $64.6 billion. The 24-hour trading volume has left $1.4 trillion behind.

Latest on Altcoins

Things also seem to be going well for the king of altcoins, Ethereum (ETH). After a 4.6% increase, the ETH price rose to $4,036, surpassing the critical threshold of $4,000.

Solana (SOL) was among the high-volume altcoins that showed the best recovery. SOL’s price rose above $150 after a 10% increase in the last 24 hours.

This morning, the only crypto with a positive outlook was Binance Coin (BNB), the native token of the Binance exchange. Today, BNB showed a modest rise compared to its competitors, increasing by 3.79% to $541.

While all this was happening, a recovery was also seen in meme coins. Dogecoin (DOGE) and Shiba Inu (SHIB) experienced increases of 3.86% and 2.40% respectively. After the rise, their prices were $0.1745 and $0.00003318, respectively.

The Unsung Hero of the Last 24 Hours

Yesterday’s unsung hero was XRP. After a long hiatus, the XRP price climbed back above the $0.70 level. This rise represented a significant increase of 16.5%. The price later pulled back slightly and is currently trading at $0.6950, just below $0.70.

XRP’s 24-hour trading volume and market capitalization also increased during this period. XRP’s market cap rose by 13%, surpassing $37 billion, while the 24-hour trading volume saw an increase of over 300%, reaching $7 billion, highlighting the intense investor interest once again.

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