The Bitcoin price (BTC/USD) has surged past the $9,000 mark on Tuesday, rising to its highest level in more than month.
The original cryptocurrency spent the better part of yesterday’s session trading sideways, around the $8,900 area. Still, the close of $8,930.88, was significantly higher that the coin’s opening price of $8,794.39.
Shortly after the start of today’s trading session, Bitcoin experienced a price jump that allowed it to break through the $9,000 barrier. Following the initial breakout, the digital currency gradually rose to $9,276.35, which is its highest price level since March 14. The Bitcoin price has edged slightly lower in more recent trading and is currently hovering around $9,240, according to data from cryptocurrency tracker Coinmarketcap.
The current price level means that Bitcoin has now risen 41.5% since April 1, when it hit a low of $6.526.87 amid a wider cryptocurrency slump. The digital currency market has rebounded from those lows, with its size growing by nearly $180 million to $420 billion.
Most of these gains have been amassed over the past 10 days or so, as the cryptocurrency rally finally took off after a period of market uncertainty.
While Bitcoin’s performance has been impressive, the original cryptocurrency has been overshadowed by many of the major altcoins on the market. Digital coins like EOS, Cardano and IOTA have more than doubled their prices over that period, with other coins also outpacing Bitcoin. As a result, Bitcoin’s dominance the original cryptocurrency’s share of the total crypto market cap – has fallen to 37.3%.
In today’s trading, the Bitcoin price stood at $9,244.69, as of 09:55 BST. The cryptocurrency has gained 3.7% in the past 24 hours. Its total market capitalisation currently stands at $157.1 billion.
For further information on how to buy and trade Bitcoin, see our comprehensive Bitcoin guide.