Bitcoin (BTC) jumped almost 10% today and surpassed $ 54,000. In this way, the market leading cryptocurrency surpassed a trillion dollars in market capitalization for the second time in its history. As of press time, the price of BTC is $ 54,689.
Throughout the day, the flagship cryptocurrency reached a daily high of $ 55,555 on Binance, but quickly retreated towards $ 54K. In this way, it set the highest peak since May 12.
The reason for the rebound is mainly due to what happened this morning in the US Congress. The chairman of the United States Securities and Exchange Commission (SEC), Gary Gensler, appeared before the Senate Financial Services Committee and confirmed that crypto trading will not be banned in the country.
On the other hand, in the last hours the latest investigation by the New York Digital Investment Group (NYDIG) was also known, which highlighted BTC as the best performing asset in 2021. So far, the cryptocurrency has an annual growth of about 60%, and the last quarter of the year promises more.
The rest of the crypto market felt the push from BTC and posted some interesting gains. Ether ( ETH ), the leading altcoin, jumped 6% and climbed back above $ 3,600 , to be less than $ 1,000 from its all-time high (ATH).
Litecoin (LTC) and Bitcoin cash (BCH) also accompanied the bullish momentum and rallied by 8%, bringing their prices to $ 181 and $ 622, respectively. Cardano (ADA) and XRP are up 2% and are trading at $ 2.23 and $ 1.10, while Binance coin (BNB) grew just 0.5% and is at $ 438.
Finally, Solana (SOL) and Dogecoin (DOGE) fell 2% and trade at USD 159 and USD 0.25 respectively. Despite the correction, the cryptocurrency meme has confirmed much of yesterday’s jump (20%).