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Ethereum is testing the $1,500 level, and Bitcoin is hitting a new monthly high

Ethereum is testing the $1,500 level, and Bitcoin is hitting a new monthly high

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Answer Ethereum is testing the $1,500 level, and Bitcoin is hitting a new monthly high

Bulls continue to dominate the crypto market with Bitcoin rising to a new monthly high above $22,400.

Many altcoins are in the green as well, with Ethereum drawing a new high at $1,500.

The cryptocurrency Matic recorded a double-digit ratio.

The past few days have gone well for most altcoins, and Ethereum has led the way.

Ethereum dropped to around $1,000 on July 13, but has added nearly 50% in value since then and is now close to $1,500.

This comes after a 9% increase in the past 24 hours.

Some altcoins shined and rose in double digits as we mentioned above with Matic rising by 18% to $0.9 and by over 60% in a week.

Read:Binance acquires a cryptocurrency exchange and buys Bitcoin futures contracts

ETC has seen a similar percentage increase in one day and is now trading at $23.

OKB and Avax rose about 10% to $14 and $24, respectively.

The rise of bitcoin and most altcoins made the total market cap rise above the $1 trillion mark.

Bitcoin hits new monthly high:

Bitcoin fell under the $20,000 level on July 13, after the release of the latest US Consumer Price Index figures.

However, the scene is completely different now.

Bitcoin reacted well to this pullback and immediately started to regain its value.

As such, bitcoin rebounded to the $20,000 level by the weekend and even jumped above the $21,000 level.

Bitcoin added over $1,500 and soared to around $22,500 where it is currently trading around.

This is the highest level in bitcoin prices in more than a month.

As a result, Bitcoin’s total market capitalization has jumped above $425 billion, while its dominance over altcoins remains at 42%.

Read:What is the best platform for cryptocurrency trading for the year 2023?

Read also:

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Why did Ethereum Classic (ETC) soar 30% after announcing the approaching Ethereum 2.0 upgrade?


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