Most major digital assets in the cryptocurrency market have increased in value over the past 24 hours. The price of Bitcoin has once again exceeded $78,500, APA-Economics reports.
According to data from the CoinMarketCap platform, Bitcoin rose by 1.17% over the past 24 hours to $78,530.34. However, the cryptocurrency's price has declined by 1.64% over the past 7 days and by 7.22% over the past 30 days.
Ethereum increased by 1.88% to $2,305.35, while BNB rose by 1.54% to $713.09. Zcash gained 3.17% to reach $1,279.72, while Quant increased by 0.34% to $200.47.
Meanwhile, Monero fell by 0.42% to $601.46, Bitcoin Cash declined by 0.41% to $285.36, and Bittensor dropped by 0.59% to $233.38.
Price increases were also recorded among gold-backed cryptocurrencies. PAX Gold (PAXG) rose by 0.48% to $3,912.64, while Tether Gold (XAUT) increased by 0.66% to $3,897.34.
The CoinMarketCap 20 index increased by 1.38% over the past 24 hours to 159.68 points. Bitcoin's market capitalization approached $1.58 trillion.
Analysts say the rise in the cryptocurrency market may be linked to increased buying activity and a partial recovery in prices following declines observed in previous days. However, the fact that the monthly performance of major cryptocurrencies remains negative indicates that selling pressure in the market has not been completely eliminated.
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