Bitcoin price crosses above $21,000 level

On Friday, November 4, the price of the first cryptocurrency breached the $21,000 level. In the last 24 hours the asset rose 3.6%, according to CoinGecko.

At the time of writing, Bitcoin is trading above $21,100.

Ethereum gained 6.8% over the last 24 hours. The current price is near $1,660.

Traditionally, Bitcoin’s rise has revived the rest of the market. Here is the top-10 by market capitalization:

In the second dozen, the biggest gainers are Polygon (MATIC) and OKX’s token (OKB) — 21.7% and 27.8%, respectively. The latter shows positive momentum after news about the platform obtaining registration in the Bahamas.

The total market capitalisation of cryptocurrencies has just over $1 trillion. BTC dominance index stands at 36.7%, ETH at 18.1%.

On October 25, Bitcoin broke above the $20,000 level after a prolonged period of extremely low volatility.

The rise in the Fed target rate to 3.75–4% per year has hardly affected the cryptocurrency market. The aggregate market capitalisation of digital assets declined by only 0.5%.

As reported earlier, the renowned trader Tone Vays predicted that Bitcoin would reach $100,000 in 2023.

However, Allianz’s chief economic adviser Mohamed A. El-Erian called unlikely the price rising above that level.

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