Bitcoin clears $30,000 as market cap tops $1.2 trillion

Bitcoin briefly traded above $29,000 on June 21. The total market capitalization of digital assets approached $1.2 trillion.

June 21, 2023 | 19:41Update:

Bitcoin cleared the $30,000 level. At one point, the price of digital gold reached $30,800. The total market capitalization of the cryptocurrency market exceeded $1.2 trillion.

As of writing, bitcoin was trading at around $28,940. In the last 24 hours the asset rose 8%, according to CoinGecko.

Following Bitcoin, all top-10 assets by market cap were in the green. The big movers over the day were Cardano (+8.7%) and Solana (+5.8%).

Analyst Kevin Peng of The Block Research linked bitcoin’s rally to optimism amid BlackRock filings to launch a Bitcoin ETF. The dominance index of the first cryptocurrency neared 51%.

Earlier in June, the price of bitcoin fell below $26,000. On June 14, the digital gold prices began to recover after the Fed kept the key rate unchanged.

Earlier, MicroStrategy founder Michael Saylor predicted a multi-fold rise in Bitcoin thanks to regulation. In his view, actions of the SEC lay the groundwork for the next bull phase.

Former chair of the CFTC Timothy Massad stated, that the future of digital assets depends on the outcomes of the SEC’s lawsuits against crypto exchanges Binance and Coinbase.