Most major assets in the cryptocurrency market recorded gains over the past 24 hours, APA-Economics reports.
According to the CoinMarketCap platform, Bitcoin rose by 1.20% over the past 24 hours to $81,424.57.
Ethereum increased by 2.98% to $2,662.61, BNB gained 3.88% to $777.31, and Zcash climbed 4.28% to $1,516.08. Monero recorded a stronger increase, rising by 8.96% to $575.54. Bittensor gained 6.34%, while Bitcoin Cash appreciated by 3.84%.
In contrast to the overall upward trend, gold-backed PAX Gold (PAXG) declined by 0.05% to $4,357.29.
The CoinMarketCap 20 index rose by 1.93% over the past 24 hours to 169.90 points. Bitcoin's market capitalization approached $1.64 trillion.
The rise in the cryptocurrency market is seen as a continuation of the recovery that began on Friday. Bitcoin gained 5.9% on September 18, reaching $81,000. At that time, falling oil prices partially eased inflation concerns and increased interest in risk assets.
Today, declining oil prices and positive momentum in global stock markets continue to support risk appetite. However, persistently high US bond yields amid the Federal Reserve's hawkish stance remain among the main factors that could limit further gains.
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