Bitcoin’s Huge Surge Pushes Crypto Market Cap to $1.19T, the Highest Since June

Bitcoin’s surge has pushed the crypto market cap to an impressive $1.19 trillion, the highest it’s been since June. This impressive rally has been driven in part by bitcoin’s 70% increase so far this year. However, the crypto industry is currently facing one of its strongest crackdowns to date.

Bitcoin's Huge Surge Pushes Crypto Market Cap to $1.19T, the Highest Since June

Despite that bleak regulatory outlook, the market cap for digital assets has continued to surge, reaching $1.19 trillion according to data from CoinMarketCap. The figure stood at about $800 billion at the beginning of 2023.Bitcoin’s share of the overall market has continued to rise amid the surge.

Bitcoin’s so-called dominance hit a nine-month high of 45.5% last month as the cryptocurrency posted its best quarterly performance in two years and turned into one of the top-performing major assets in the world.

April has been a good month for BTC historically, so there is precedent for the rally to continue. In the past 10 Aprils, Bitcoin has gained in six of them, averaging a return of 17%. This data is from Matrixport.

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