The post Crypto Market Surpasses $2 Trillion: BTC, ETH Rally Stronger appeared on BitcoinEthereumNews.com.

The crypto market made a strong comeback, with a total value that went over $2 trillion. This was triggered by a rise in the prices of Bitcoin (BTC) and Ethereum (ETH). The same happened after positive data about the US job market. In the past 24 hours, the crypto market has been performing better. It added more than $131 billion to its value and went over $2 trillion for the first time in weeks. Bitcoin and Ethereum have been the most active. Each showed big price gains that showed investors were feeling more confident again. Bitcoin Surges Past $61,000 Bitcoin, the most valuable cryptocurrency by market cap, staged an amazing comeback on August 8th, rising over 8% in just 24 hours. During this rise, BTC hit a 24-hour high of $62,673.73. This is a big jump from the low of the previous day. At the time of writing, Bitcoin is trading at around $61,000, with a trading volume exceeding $43 billion according to Coinmarketcap data. The recovery comes following positive reports about the US job market. This seems to have calmed investors’ worries about an impending recession. On August 5th, data revealed that initial jobless claims fell to 233,000 for the week ending August 3rd. The results defied expectations and signaled a more robust labor market. This news injected fresh optimism into the market. In turn, leading to a wave of buying that pushed Bitcoin’s market cap back over $1.2 trillion. Ethereum Eyes $3,000 After 11% Surge Like Bitcoin, Ethereum’s price has been going up. In the past day, it has gone up almost 11%. The market value of the second-largest cryptocurrency rose to $2,700 after being stuck around $2,500 for most of the previous week. Ethereum’s trading volume also saw a substantial increase, contributing to the overall positive momentum in the market. The continued…

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Filed under: News - @ August 9, 2024 4:20 pm