Bitcoin has experienced a rapid rise in the morning. Let us pay attention to the changes in the encryption market in the past 24 hours: The current total market value of the encryption market is 1.38 trillion US dollars, with an increase of 3.44% in 24 hours, and the market value has increased. $47 billion. Trading volume in 24 hours increased by 13.59% to reach $53.25 billion.
Bitcoin’s market share is 52.1%, and Ethereum’s market share is 16.8%.
Bitcoin’s market value increased by 3.91% in the past 24 hours, adding $28.1 billion to the market value, and the current total market value is $717.979 billion. Meanwhile, Bitcoin’s trading volume increased by 40.86% in 24 hours, reaching $25.29 billion.
The market value of Bitcoin began to grow rapidly at 10 a.m., along with the price increase, but fell back slightly in the afternoon, and the current market value is in the process of falling.
From the above data, we can draw the following conclusions:
The total market capitalization of the crypto market increased by $47 billion, with Bitcoin alone accounting for a large portion of this market capitalization. However, while Bitcoin’s price has grown significantly and its market share has increased slightly, Ethereum’s market share has shrunk.
Despite Bitcoin’s stellar price performance, its market capitalization share is relatively small. Investments in the current market are still skewed towards higher-risk altcoin categories. Half of the day's market capitalization growth was mainly attributed to these altcoins, indicating a significant increase in market activity following the increase in Bitcoin prices.
At the same time, Bitcoin’s trading volume accounts for half of the entire crypto market trading volume. Observing the Bitcoin price trend, we can see that Bitcoin chips continue to change hands during the process of breaking through $37,000.
In the next article, we will focus on the flow of market funds in the past 24 hours to learn more about the source market of the day's rising market capitalization funds. #BTC🔥🔥
