Urgent: Strong Rise of Cryptocurrencies as Risk Sentiment Improves

The price of Bitcoin has risen as the American session comes to a close, trading at a level of $103,587.3, up by 2.27% over the past 24 hours, according to data from Investing.com. The market capitalization of the currency reached approximately $2.07 trillion, with a dominance of 60% of the total market, while Ethereum came in second with a share of 11.8%.

Despite the daily increase, Bitcoin recorded a weekly decline of 7.30%, while Ethereum fell by 13.21%, following a strong selling wave that hit the cryptocurrency market at the end of October.

As for other notable currencies, they showed positive performance, with Solana rising to $161.44 (+4.09%), Ripple to $2.3331 (+5.3%), and Cardano to $0.5430 (+3.88%), while Dogecoin and Shiba Inu rose by moderate percentages.

The improvement extended to stocks of companies linked to the sector, as Coinbase's stock rose by 3.9% to $319.30, MicroStrategy by 3.3%, while Marathon Digital and PayPal increased by about 3%, and Block by 1.5%.

This recovery reflects an improvement in investor sentiment and a return of institutional demand for digital assets, following a period of sharp volatility that the market has recently experienced.

$SEI