The Bitcoin price (BTC/USD) has managed to break above the $3,700 barrier for the first time in nearly a month after seeing solid gains over the most recent 24-hour period.
The original cryptocurrency had a mostly quiet weekend, with its price hovering below the $3,650 mark on Saturday and during most of the Sunday session. However, the coin rallied in the final hours of yesterday’s session, which allowed it to notch up a close of $3,673.84, its highest in nearly a month.
Bitcoin has continued to advance steadily in today’s morning session, with its price breaking above the $3,700 mark. The coin rose to as high as $3,757.87 earlier in the session, which was its highest price level since January 19, according to data from digital currency tracker Coinmarketcap. The coin has pulled back slightly in more recent trading and is currently hovering around the $3,745 level.
Bitcoin’s advance appears to be part of an uptrend observed across the wider cryptocurrency market. Most major digital coins have seen significant gains over the past 24 hours, with Ethereum being the standout performer in the crypto top 10, having gained more than 10%. Bitcoin Cash (BCH), Binance Coin (BNB) and EOS have also enjoyed strong rallies.
Bitcoin’s rally has been supported by strong market activity, as shown by Coinmrketcap data. Yesterday, the coin posted daily trading volume of just over $7 billion, up from the $5.9 billion it recorded in the preceding session. In addition, Bitcoin’s 24-hour trading volume currently stands at $8.15 billion, suggesting the market activity has been even stronger since the start of today’s session.
In today’s trading, the Bitcoin price stood at $3,747.66, as of 09:09 GMT. The digital coin has gained 2.8% in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at $65.7 billion, which represents 52.2% of the combined value of all digital currencies