On Thursday, December 23, Bitcoin’s price returned to levels above the psychologically important $50,000 mark. In the last 24 hours the gauge rose by 5%.
At the time of writing, the price moved above $51,000. The rise was accompanied by a surge in trading volume.
Analysts noted that indicators pointed to a bullish reversal.
The flagship pulled the rest of the market higher, with most leading coins in the green over the past 24 hours. Ethereum climbed back above $4,000.
The Terra project’s Luna token continued its rally — the price rose 52% over the week (CoinGecko).
The total market capitalization of cryptocurrencies surpassed $2.5 trillion, with Bitcoin’s dominance at 38.5%.
Earlier in November, set an all-time high for digital gold, breaching the $69,000 mark.