Bitcoin price approached $67,000, pulling Ethereum with it
Bitcoin reaches new heights with the arrival of the first BTC-ETF on the NYSE Arca exchange. The main cryptocurrency on the market has broken a new all-time high, gaining a foothold above $66,000 on Binance.
Bulls are confidently marching through the market, directing Bitcoin towards new records. Against this background, the capitalization of the crypto asset reaches $1.255 trillion, and the total market capitalization exceeds the $2.64 trillion mark, which is almost 6% more than a day ago.
The peak in capitalization marked an important milestone for cryptocurrencies, especially after a protracted summer correction that threatened investor bullish sentiment. During the period of Bitcoin's fall all the way to the $30,000 level, the total market capitalization dropped to $1.2 trillion.
Many rightly believe that the most recent impetus for Bitcoin is the adoption by the US SEC of the first Bitcoin ETF of ProShares, which is traded under the ticker BITO on the New York Stock Exchange. In honor of the event, BTC rewarded the market with a new $66,930 ATH, according to CoinMarketCap.
At the moment, the cost of Bitcoin exceeds $66,226 on Binance and has no plans to decline yet. Ethereum, meanwhile, has surpassed $4,069.
The excitement among Bitcoin investors pulled Ethereum with it, breaking the $4,000 level. The last time we saw such indicators of the second cryptocurrency was in May of this year. With the exception of stablecoins, the entire top ten CoinMarketCap also entered the green zone.
The latest leap in Ethereum increased its profitability from the beginning of the year to the current moment by almost 450%, which significantly impressed investors when compared to Bitcoin's 130% profitability over the same time period.
If this goes on, and Bitcoin continues its upward trend, ETH will be able to bring its holders even more profit in the coming sessions, reaching above $4,400.
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