Bitcoin Soars Beyond $53K First Time Since 2021, Trading Volume Boosts 30%

By: Eliza Bennet

In a significant market rally, Bitcoin has successfully surpassed the $53,000 mark, a level unseen since December 2021. As per the latest update, Bitcoin is trading around the $53,538 level. Concurrently, Ethereum has been witnessing a positive phase, exceeding $3,150, which marks a 4% surge from its intra-day low. Despite the rise, Ethereum's momentum appears to be weaker than Bitcoin's, as the ETH-BTC ratio declined by 2.11%.

The market displayed relatively flat performance over the weekend but the trading volume across the sector has marked a robust upsurge. Top performers include Bitcoin (30.9%), Tether (35.7%), BNB Chain (48.6%), Solana (45.7%), and Staked ETH (29.1%). Ethereum trails behind with a modest increase of 15.4%.

These are encouraging signs for the crypto industry, indicating that the market rally is broad-based and not driven by just a few large coins.