Bitcoin breaks $53k for first time in over 2 years as trading volume surges 30%

exchange68September 11, 2024

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Bitcoin has broken the $53,000 level for the first time since Dec. 4, 2021, and is currently sitting around $53,538 as of press time.

Ethereum is also up on the day, surpassing $3,150, an increase of 4% on the intra-day low. However, the strength of the Bitcoin-led rally can be seen in the ETH-BTC ratio, which is down 2.11%.

Bitcoin price surge (Source: TradingView)

Following a weekend of relatively flat price action, trading volume throughout the industry is up significantly. Bitcoin (30.9%), Tether (35.7%), BNB Chain (48.6%), Solana (45.7%), and Staked ETH (29.1%) lead the charge, with Ethereum up a more modest 15.4%.

Crypto market volume surge (Source: TradingView)

Analyst

Liam ‘Akiba’ Wright

Senior Editor at CryptoSlate

Also known as “Akiba,” Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.

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