Bitcoin's value surpassed $105,000 for the initial time since January.
Hop on the Crypto Train!
As the clock strikes 4:05 AM Moscow time, the Bitcoin price touches a whopping $105,032, marking an increase of 0.34%. However, by 4:19 AM, the price droops slightly to $104,495. Fast forward to 5:17 AM, and the cost dips further to $104,171, representing an impressive 0.18% surge in the last 24 hours.
Latest news reveals that Bitcoin's current market capitalization stands tall at an astounding $2 trillion, with a trading volume of colossal $47.2 billion over the past day. Right now, BTC is traded around the $104,400 mark, exhibiting a 1% rise in the last 24 hours due to a trading agreement between U.S. Treasury Secretary Janet Yellen and Chinese Commerce Minister Wang Wentao. This deal involves lowering tariffs from 125% to 10% in China and from 145% to 30% in the U.S., according to Bloomberg.
Starting from late February, the Bitcoin price dipped, only to fluctuate until early April. The price hovered around $76-77k in early April and escalated to $102,000 on May 9. The most significant surge occurred between May 7 and 9.
In the crypto world, Ethereum has also seen active price surges since May 8, with its price reaching an impressive $2,506 (per unit), as per Binance data. On May 8, Ethereum clocked in at around $1,800 per unit.
According to the Alternative.me platform, the Crypto Fear & Greed Index swings to the "greed" zone at 70 points out of 100. With the tariff disputes being ironed out, investors are more inclined to jump aboard the crypto train, leaving their earlier worries about market volatility behind.
However,Warning!Warning! Observe the upcoming U.S. inflation data scheduled for May 13. This could sway the Fed's decision on interest rates in June, which could, in turn, impact the crypto market significantly.Experts suggest staying tuned to the U.S. inflation data, as it could be the game-changer for Bitcoin and Ethereum prices.
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- Amidst the ongoing tariff agreements and the improving crypto market conditions, there seems to be a surge in interest among investors towards technology-driven finance and investing, fueling the growth of the crypto market, including Bitcoin and Ethereum.
- With the Crypto Fear & Greed Index standing at 70 points, signifying a shift towards 'greed', and the tariff disputes being resolved, it's evident that technology-focused finance and investing, particularly in cryptocurrencies like Bitcoin and Ethereum, are becoming increasingly attractive for investors, leaving their previous concerns about market volatility behind.
