Bitcoin’s price continued to rise and on Monday, February 7, briefly surpassed the $44,000 level. The total market capitalisation exceeded $2 trillion, according to CoinGecko.
At the time of writing, BTC failed to hold above $44,000 and pulled back to around $43,900. Over the last 24 hours the asset rose by 5.3%, over the week — 15.7%.
Ethereum rose above the $3,000 level and, at the time of writing, trades near $3,120. Over the last 24 hours the second-largest cryptocurrency by market capitalisation gained 4.2%.
Among the top 10 by market capitalisation, XRP by Ripple posted the most notable rise (+16.6%). It closed in on its nearest rival — Solana (+5.5%). In the red were the stablecoins USDT and USDC.
Earlier it emerged that KPMG’s Canadian arm added an undisclosed amount of BTC and ETH to its balance sheet.
Earlier in January, Goldman Sachs analysts warned about Bitcoin’s dependence on Fed policy, and JPMorgan lowered Bitcoin’s fair value from $150,000 to $38,000.
Earlier, Fundstrat managing director Mark Newton said that in the coming months the BTC price has a good chance of hitting a local bottom. Among the key technical levels for bulls he highlighted $40,000.
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