Bitcoin Reached Record 2-Month High of Over $42.000

by in Cryptocurrency News

Bitcoin price goes up

Gaining around a 4% price increase over the previous 24 hours, Bitcoin's price reached its 2-month high surpassing $42.000. Over the previous 7 days, the price has gone up by over 23%.

Related: US Senator highlights factor accelerating crypto adoption

The price of Bitcoin started to rise after the massive sell-off in May. Since then BTC was hesitating between $30.000 and $40.000. On July 24, it even fell below $30.000, however managing to recover shortly after.

One of the reasons for the surge was the high activity of whales indicating the high demand for crypto. Data shows that on July 28, 57000 Bitcoins left exchanges, which is a record number.

The total crypto market cap has increased by over 3.5% over the previous 24 hours and now stands at about $1.62 Trillion. Among the major gainers of the week are Ethereum, XRP, and Chainlink, which gained around 15%, 22%, and 31% respectively. Currently, Ether trades at around $2450, XRP at $0.74, and Link at $22.