Bitcoin Soars to Monthly Peak at $75K, Ethereum Touches $2.4K: Market Watch
TL;DR
Bitcoin's price surged over $4,000 in 24 hours, reaching a monthly peak of $75,000. The total crypto market cap increased by $100 billion as most altcoins followed Bitcoin's upward trend.
Key points
- Bitcoin touched a monthly peak of $75,000
- Price increased by over $4,000 in 24 hours
- Total crypto market cap rose by $100 billion
- Surge followed US-Iran ceasefire announcement
- Bitcoin dropped to $70,500 after failed peace talks
Bitcoin’s price has added over $4,000 in the past 24 hours as the asset just touched a monthly peak of $75,000.
Most altcoins have followed suit, which has helped the total crypto market cap add $100 billion in a day.
BTC Sees Monthly Peak
The primary cryptocurrency exploded at the beginning of the previous business week after the US and Iran reached a two-week ceasefire. The asset rocketed from $68,000 to a then-local peak of $73,000 in just a day. After a brief retracement, it went back on the offensive at the end of the week as the two sides prepared for peace talks in Pakistan.
Bitcoin rose to almost $74,000 on Saturday before the actual meeting took place. Once it became known that the delegations from the two nations failed to reach an agreement over the nuclear side, BTC dumped once again, slipping to $70,500.
However, the bulls intervened and helped it maintain the $70,000 level. The past 12 hours or so have been a lot more positive following new reports that Iran and the US could reopen negotiations soon. Bitcoin reacted with another price pump that drove it to $75,000 for the first time since March 17.
Its market capitalization has risen to $1.5 trillion, while its dominance over the alts has pumped to 57.3% on CG.
BTCUSD April 14. Source: TradingView
ETH Aims at $2.4K
Most altcoins have turned green over the past day, with ETH leading the charge from the larger caps. It has rocketed by over 9% in the past day and touched $2,400 earlier today for the first time in over two months. Ripple’s token is up by 3.5%, similar to BNB as both assets continue their fight for the fourth spot.
HYPE, LINK, CC, RAIN, PEPE, UNI, and SUI have marked impressive gains as well, but RAVE has stolen the show with another 60% surge that has driven it to over $14 as of now.
The cumulative market cap of all crypto assets has added over $100 billion in a day and now sits above $2.6 trillion on CG.
Cryptocurrency Market Overview April 14. Source: QuantifyCrypto
Q&A
What caused Bitcoin to reach a monthly peak of $75,000?
Bitcoin's price surged after a ceasefire agreement between the US and Iran, leading to increased market optimism.
How much did the total crypto market cap increase recently?
The total crypto market cap added $100 billion in just one day as Bitcoin and other altcoins rose.
What was Bitcoin's price fluctuation during the peace talks?
Bitcoin rose to nearly $74,000 before the peace talks, but dropped to $70,500 after the delegations failed to reach an agreement.
