cryptocurrency markets were trading higher in Tuesday's trade. Bitcoin (BTC) rose 9.25% to $24,514 whereas Ethereum (ETH) was above the $1,650 level.
BTC volume stood at approximately $48.26 billion, rising 39.89% in the last 24 hours. Meanwhile, the global cryptocurrency market cap was trading higher around $1.08 trillion, rising 5.11% in the last 24 hours. «In the last 24 hours, Bitcoin experienced a surge of almost 10%, surpassing the US$24,000 mark, following the announcement that U.S.
regulators have backed Silicon Valley Bank and Signature Bank. This news has given investors, and traders hope that the banking sector's recent near meltdown will prompt the Federal Reserve to ease its monetary hawkishness.
As a result, BTC has risen above a floor and reached a two-week high,» Edul Patel, Co-founder and CEO at Mudrex, said. Other top crypto tokens were also trading higher.Read more on economictimes.indiatimes.com