Bitcoin Rises More Than 37% Against US Dollar This Week, Loses $28K On Sunday – Market Updates Bitcoin News

by James · March 19, 2023

Bitcoin Rises More Than 37% Against US Dollar This Week, Loses K On Sunday – Market Updates Bitcoin News

Bitcoin rises more than 37% against the US dollar this week, hits $28,000 on Sunday

Bitcoin hit a high of $28,422 per unit on Sunday around 3pm Eastern Time as the leading cryptocurrency has continued to rise over the past week. Since last Sunday, bitcoin has increased in value by 37.9% against the US dollar, and the cryptocurrency’s total market capitalization has increased to $546 billion.

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Global Cryptocurrency Market Cap Increases 1.11% to $1.18 Trillion; Bitcoin Dominance Remains Above 45%

Just before 3 pm ET on March 19, 2023, bitcoin (BTC) passed the $28,000 zone, rising to $28,422 per unit on Sunday afternoon. Currently, the leading cryptocurrency’s value is hovering within that region, at just above $28,300 after meandering just below it at $27,925 per unit. Bitcoin has rallied more than 37% against the US dollar in seven days, and in the past 24 hours it has risen about 3.5% higher.

Currently, there is $42.9 billion in global bitcoin trades out of $203 billion in trading volume among all digital assets in existence. While bitcoin hit a high of $28,422 on Sunday, it also saw a low of $27,009 per unit during the day. Bitcoin has $23.94 billion left to surpass Tesla’s market cap of $569.94 billion to become the tenth largest asset by market valuation.

The global cryptocurrency market cap was $1.18 trillion on Sunday, up 1.11% over the past day. The last time bitcoin traded above the $28,000 region was in June 2022, following the collapse of the Terra blockchain and UST. Current statistics also show that the second largest cryptocurrency by market capitalization, ethereum (ETH), jumped 1.7% higher in the last day and 24.3% in the last week.

Of the $1.18 trillion in value, bitcoin’s dominance on Sunday is 45.7%, while ethereum’s is 18.8%. Bitcoin’s top ten trading pairs on Sunday include Tether (USDT), BUSD, USD, KRW, EUR, JPY, USDC, TRY, GBP and CHF. In addition to bitcoin surpassing the $28,000 zone, there is also a small ‘Kimchi premium’ in South Korea, with bitcoin trading for $200 more per unit in the country than most crypto exchanges abroad.

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Asset, Bitcoin, Bitcoin (BTC), Bitcoin Price, Blockchain, BTC Prices, BUSD, CHF, Cryptocurrency, Digital Assets, ETH, EUR, Finance, gbp, global market, Greenback, investment, JPY, kimchi premium, KRW, market, Market Cap, Market Cap, Market Updates, Market Cap, South Korea, Tether, Trading Pairs, TRY, USD, USDC, USDT, UST Collapse

What are your thoughts on bitcoin’s recent price rise and its potential impact on the overall cryptocurrency market? Share your opinions in the comments section below.

Jamie Redman

Jamie Redman is the news editor at Bitcoin.com News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.