A cryptocurrency rally on Tuesday accelerated Bitcoin's progress toward breaking out of a one-month-old trading range and sparked significant increases in lesser-known tokens known as "altcoins." Today, the price of one bitcoin was USD 22,107, an increase of more than 4%.
"Bitcoin gained 5% from the previous day and traded above the USD 22,000 mark. Price may continue to trend upward if it can hold at that level. Ethereum, on the other hand, outperformed the cryptocurrency market. This milestone comes after six straight days of higher highs for Ethereum, which raised the price above the USD 1,500 mark and demonstrated the asset's strong strength and recovery.
The second-largest cryptocurrency, Ether, which is connected to the Ethereum network, increased more than 9% to USD 1,527. Shiba Inu price increased by more than 5% to USD 0.000012, while Dogecoin price was trading about 3% higher at USD 0.06.
As XRP, Solana, BNB, Litecoin, Stellar, Chainlink, Tron, Apecoin, Avalanche, Polkadot, Polygon, Uniswap, and Tether prices were trading with gains over the last 24 hours, other cryptocurrency values today also performed well.
As investors lick their wounds following a panic started by tightening monetary policy and made worse by the fall of crypto lenders and the TerraUSD stablecoin, Bitcoin has struggled to break out of a USD 19,000 to USD 22,000 range. Since reaching a peak of close to USD 69,000 in November, the biggest token in the world has had difficulty.
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