Bitcoin Surpasses $25K for the 3rd time in three days
For the third time in three days, Bitcoin has surpassed $25,000 on Binance, defying larger market trends and extending its bullish run into 2023. During the weekend, Bitcoin rose to a local high of $25,050 before dipping slightly to $24,880, up 7.28% from Friday’s low of $23,332.
On February 17 and 18, the key psychological barrier of $25,000 was again put to the test, but the top cryptocurrency by market size failed to make a convincing breakthrough. Until 2023, every time Bitcoin rose over $25,000, it immediately fell back below.
The decision, however, comes after Bitcoin’s stellar performance since the beginning of January, which has seen it rise 50% year so far. Throughout the first few months of the year, Bitcoin gradually increased from its starting price of about $16,000.
The broader market reacted
A rise in the total market value of cryptocurrencies, which is now above $1 trillion and standing at $1.14 trillion, was also driven by bitcoin. The only top 10 project that has outperformed over the last week is Polygon, which has increased by 17.43% vs Bitcoin’s 12.54%.
Cardano and Dogecoin, which now lead the top 10, recorded drops of 0.70% and 1.37%, respectively, over the previous day. As of the time of publication, Bitcoin has dropped by 0.27%. Yet, Bitcoin has also increased by 2% during the last four hours after hitting a low of $24,600 on Sunday.
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