Crypto Market Rallies, Bitcoin Price Shoots to All-Time High of $102,722

U.S. President Donald Trump’s announcement of a U.S.-UK trade deal pushed up the crypto market on Friday, after which the crypto market saw a recovery of over $240 billion in a day.

The crypto market capitalization is now $3.22 trillion, according to CoinMarketCap.

The world’s largest cryptocurrency, Bitcoin’s price shot up by 3.9 percent over the last few hours, after the value of the digital asset went up by 18 percent to reach $102,722 on Friday.

The price of BTC hit a new high of over $100,000 for the first time in over two months, after the cryptocurrency’s value went down to $97,915 on Indian exchanges.

The next resistance for BTC lies at $106,600 while the support is at $98,600, said Edul Patel, Co-founder and CEO of crypto investment platform Mudrex.

“The crypto market recovered over $240 billion in a day, with Bitcoin becoming the fifth-largest asset by market cap. The rally followed Trump’s announcement of a US-UK trade deal and optimism around a potential US-China agreement, boosting investor confidence. This leads to anticipation of strong economic activity.”

The price of ether went up by over 16 percent in the last 24 hours. At present, ETH is available for $2,007.

The asset’s value increased by 18 percent to trade at $2,155 on Indian exchanges.

“Altcoins also gained huge momentum, with Ethereum surging past the pivotal resistance at $2,200 with over a 20 percent jump. The liquidity flow into the altcoins hints towards a potential altseason very soon,” said the CoinDCX research team.

The crypto price tracker by Gadgets 360 showed that the prices of most altcoins went up on Friday. Among these are Ripple, Solana, Dogecoin, Cardano, and Tron.

Shiba Inu, Polkadot, Litecoin, Monero, and Polygon also rose in value on Friday.

The overall crypto market went up by nearly five percent in the last 24 hours. At the time of writing, the crypto market cap stood at $3.22 trillion, as per CoinMarketCap.

Among the altcoins, Tether, Litecoin, Near Protocol, Cosmos, and EOS Coin, were some of the altcoins that saw their values dip on Friday.

“The current surge marks the second leg of the broader bullish rally. With institutional interest accelerating across the board, this rally underscores the rapid maturation of the crypto market and its growing acceptance as a mainstream asset class,” Himanshu Maradiya, Founder and Chairman of the CIFDAQ exchange told Gadgets 360.

Owing to the ongoing macroeconomic changes and geopolitical unrest, analysts have strongly advised investors to be cautious while investing.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.