The Bitcoin cryptocurrency experienced sharp fluctuations after reaching a peak of $ 58,000 on February 21st. Bitcoin, which recovered over the weekend, crossed $ 50,000.
US bond yields, US Federal Reserve President (Fed) Jerome Powell ‘Bitcoin fell below $ 50,000 after rising 1.55 percent after the announcement of “irregular market conditions are cause for concern” and returned above that level over the weekend with support for total purchases.
Bitcoin, which fluctuated between $ 47,257.53 and $ 51,072.12 in the last 24 hours, rose 4.36 percent to $ 50,843.78, while the unit’s weekly earnings were estimated at 12.39 percent. The total market size of Bitcoin also rose to $ 948 billion. Bitcoin, the largest unit of cryptocurrency markets, saw a new peak on February 21 at $ 58,330.
The total market size of crypto assets also rose to $ 1.568 trillion. With a rapid spike after institutional interest in cryptocurrency markets, total market volume crossed the $ 1 trillion level on January 7 and $ 1.5 trillion on February 15.
In the 35,405 market where 8,708 cryptocurrencies were bought and sold, 60.5 percent of the total market volume was Bitcoin and 12.3 percent was the second Ethereum. The volume of 24-hour trading in all markets was $ 98.6 billion.