Bitcoin’s price (BTC/USD) has shown impressive growth in the last 24 hours, surging by 5.83% to reach $62,903.00. This positive trend extends beyond the daily timeframe, with BTC experiencing a week-long upward trajectory, gaining over 1.0% from $62,335.02 to its current value.
While the price is currently below its all-time high of $73,738.00, this recent surge suggests a positive market sentiment surrounding Bitcoin. To visualize this volatility, the chart below compares Bitcoin’s price movement over the past 24 hours (left) to its performance over the past week (right). The gray bands represent Bollinger Bands, which measure the volatility for both the daily and weekly price movements. The wider the gray area at any given moment, the higher the volatility.
The trading volume for Bitcoin has witnessed a significant increase of 8.0% over the past week, moving in the opposite direction of its circulating supply, which has decreased by 0.12%. This decrease brings the circulating supply to 19.77 million, representing an estimated 94.13% of its maximum supply of 21.00 million. According to our data, Bitcoin currently holds the #1 position in the market cap ranking, with a value of $1.24 trillion.
These recent developments highlight the continuing interest and potential in the cryptocurrency market, particularly for Bitcoin. However, it’s important to note that the cryptocurrency market remains volatile, and investors should proceed with caution and conduct thorough research before making any investment decisions.
