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Bitcoin (BTC) gained about 7%, going beyond $31,000 for the first time since March, owing to global signals. According to Coin Desk data, BTC reached a high of $31,594.75 in early morning trade on Tuesday. Ether (ETH) gained a little over 9% to over $1,983, with a 24H Low of $1,834.79 and a 24H High of $2,013.57. Cardano (ADA) among the Ethereum rivals, rising 15% to over $0.57. Binance Coin (BNB), on the other hand, is up almost 3% at $319.09, with a 24-hour low of $309.63 and a 24-hour high of $324.60.
Bitcoin has been in a negative correction since early April as a result of many macroeconomic issues exerting weight on the traditional and crypto markets throughout the world, but the battle for the $30,000 level is now over. XRP increased almost 5% in early Tuesday trade to $0.415, compared to a 24-hour low of $0.39 and a 24-hour high of $0.42. The Solana price is $46.90 as of 7:41 a.m., up 1.78 per cent from the previous 24 hours. The Stellar price is $0.14, up 5.68 per cent from the previous 24 hours as of 7:42 a.m., with a 24H low of $0.13 and a 24H high of $0.14.
The Polkadot price is $10.43, up 0.95 per cent in the last 24 hours as of 7:43 a.m., with a 24h low of $10.02 and a 24h high of $10.77, while The Avalanche price is $28.15, up 3.72 per cent in the last 24 hours as of 7:44 a.m., with a 24-hour low of $26.22 and a 24-hour high of $28.50. The last time average ETH costs fell below $3 was on July 11, 2021, or nearly 10 months ago; nevertheless, according to Coin Desk's on-chain statistics, the average transaction price is presently around $3.70.
Kunal Jagdale, Founder, BitsAir Exchange has said “Bitcoin has been able to sustain above the $31,000 mark as the selling pressure in the digital token market has eased. After hitting the 18 month lows, the token has seen a slow but steady revival over the last few sessions. With its dominance around 46% in the crypto market, the token might support altcoins and lead the broad based recovery."
“Coupled with the rise in global equity markets, Bitcoin's recovery is likely to sustain in the near term and $34,000-$35,000 are the next hurdles for Bitcoin. The market expects some relief from the Fed on monetary policy and interest rates in the coming weeks," he further added.
