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Above $7K: Bitcoin's Price Shoots Up $600 in 30 Minutes
Bitcoin's price shot well above $7,000 Tuesday in a dramatic move.
By Sam Ouimet
Updated Sep 14, 2021, 1:53 p.m. Published Jul 17, 2018, 6:13 p.m.
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Bitcoin's price shot well above $7,000 Tuesday in a dramatic move that took the cryptocurrency to a level it hasn't seen in more than a month.
As of press time, the world's most valuable cryptocurrency by market capitalization was trading at $7,368.22, up more than $600 from the day's open at $6,726.40. Indeed, the market moved quickly, posting the gains over the course of 45 minutes.
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CoinDesk's Bitcoin Price Index (BPI) registered a market high of $7,408.28 amidst the sudden spike upward. The last time the price was this high was on June 10, BPI figures reveal.
At press time, Bitcoin is the biggest gainer among the top 10 cryptocurrencies by market capitalization and is reporting a 16.19 percent week-to-week price increase, according to price tracking site CoinMarketCap.
Other major cryptocurrencies are following suit – a usual occurrence when bitcoin prices surge. Names like XRP, EOS, and are all printing gains above 6 percent.
Per CoinMarketCap, the total market capitalization for the cryptocurrency market hit roughly $287 billion in light of the market uptick.
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Crypto market drowns in red as bitcoin falls to $68,000
Traders are bracing for a heavy week of macroeconomic events, including Fed minutes and the core PCE inflation report.
Що варто знати:
- Bitcoin wilts, pushing the broader market into the red.
- Losses have hit 85 out of the top 100 tokens.
- The sell-off comes despite weaker U.S. inflation data that strengthened expectations for at least two Federal Reserve rate cuts.
- Traders are bracing for a heavy week of macroeconomic events, including Fed minutes and the core PCE inflation report.
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