Bitcoin spearheaded a significant surge in cryptocurrency prices and associated stocks on Tuesday, surpassing $57,000 for the first time since November 2021, according to reports. Bitcoin's value climbed above $57,000 on Tuesday morning, briefly reaching $57,430, marking a substantial increase compared to its late 2021 levels. CoinDesk data revealed that the world's largest cryptocurrency experienced an almost 11 percent surge over the past 24 hours, as reported by Investor’s Business Daily.
Moreover, in mid-February, Bitcoin's market capitalization exceeded the $1 trillion milestone for the first time in over two years. Since the beginning of the year, Bitcoin has seen a 34 percent increase, with significant gains occurring following the launch of the spot Bitcoin ETF in early January.
Meanwhile, Ethereum witnessed a surge of approximately 6.8 percent in the 24 hours leading up to Tuesday morning, reaching a trading price of around $3,280, its highest level since April 2022. Early Tuesday trading saw ETH peaking at $3,289. According to the report, the second-largest cryptocurrency experienced an impressive spike of almost 44 percent in 2024.
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