Bitcoin reaches new all time high as Crypto market cap surpasses $3Trillion
The main cryptocurrency has managed to break through its previous all time high and is currently hovering around $67,500 as the entire market appears to be gaining momentum today with other majors like Cardano and Litecoin up over 10%. After a brief period of consolidation, the rally was supported by some upbeat fundamental news like Mastercard launching crypto-linked payments cards in Asia which after recent news of a Bitcoin ETF approval in the US, continues to further the narrative that cryptocurrencies are becoming more widely accepted which in turn furthers mass adoption. While the price of BTC has pulled back slightly, it still remains unclear if it will be able to extend the upward move as it could be increasingly susceptible to news and the general sentiment. Either way, as we have seen in the past, any signiant move by the main cryptocurrency could lead to a domino effect across the market as traders and investors attempt to capitalize.
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