Did you know that Bitcoin gained supremacy after a surge in trade to $44,000 before stabilising above $43,216 in the recent crypto bull rally.
Bitcoin’s greatest winning streak since May propelled the token beyond $44,000, raising concerns about whether the crypto breakout is increasingly reflecting a belief that a looser Federal Reserve monetary policy is on the way.
Bitcoin overcame a drop in global stock markets to record another more than 19-month high, indicating the currency’s independence from other assets.
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Bitcoin (BTC) is currently trading at $43, 216. This is a 4.69% increase in the last 24 hours and a 15.29% increase in the last 7 days.
The global crypto market valuation is now $1.67 trillion, a 4.06% increase over the last 24 hours and an 88.46% increase over a year ago.
Bitcoin (BTC) has a market cap of $856 billion as of December 7, reflecting a 51.21% market dominance.
Meanwhile, the market cap of stablecoins is $130 billion, accounting for 7.78% of the total crypto market cap.
While Binance’s Bitcoin reserves were initially 17% lower than their all-time high, the exchange is now seeing BTC inflows again.
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Binance’s Bitcoin balance has risen by approximately 1% since the initial outflows.
In comparison, Treserves were drained by 99.9% from their all-time high when the exchange underwent a run on the bank in November 2022 and never recovered.
According to Nansen’s research, the largest crypto exchange, Binance, is back to normal operations.
