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Bitcoin Surges Over 10% to Top $71,000 in Largest Daily Gain Since February
Bitcoin surged more than 10% on Thursday, marking its largest single-day percentage gain in over six months and pushing its price above the $71,000 level. The rally significantly boosted the digital asset's market capitalization and reflected broader strength across the cryptocurrency market.
Key Market Moves
According to data from the Investing.com Index at 08:11 GMT, Bitcoin was trading at $71,021.6, an increase of 10.27% for the day. This move represents the most substantial one-day percentage increase for the cryptocurrency since February 6.
The sharp price appreciation lifted Bitcoin's total market value and its share of the overall crypto market:
- Market Capitalization: Reached $1.3997 trillion.
- Market Dominance: Accounted for 58.94% of the total cryptocurrency market cap.
Despite the rally, Bitcoin's market cap remains below its all-time high of $2.4881 trillion, as reported by the index.
Trading Activity and Context
AdThe price surge was accompanied by significant trading activity, with $55.6 billion in Bitcoin traded in the preceding 24 hours. This figure accounted for 41.94% of the total volume across all cryptocurrencies, according to the data.
Over the past seven days, Bitcoin has gained 9.3%. Even with the strong daily performance, the asset remains 3.69% below its all-time high of $73,740.90, which was set on March 14, 2024.
Broader Crypto Market Rallies
The positive momentum extended across the digital asset space. Ethereum, the second-largest cryptocurrency, posted an even larger gain, rising 18.32% to trade at $2,273.78 and pushing its market cap to $271.4 billion.
In contrast, the stablecoin Tether (USDT) remained steady, trading at $0.9996, consistent with its peg to the U.S. dollar. Its market cap totaled $183.0 billion, or 7.70% of the total market value.
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