The global crypto market capitalization climbed to nearly $2.82 trillion on Thursday, reaching its highest level in more than seven months as bitcoin broke above $81,000 and major altcoins posted double-digit gains.
This is a major recovery from its sharp January sell-off, when the total market cap fell from around $3.4 trillion in mid-January to around $2.3 trillion in the first week of February.
Bitcoin breaking the $80k wall, fueled by $100 million of ETF inflows and OTC activity, was enough to banish the bears ahead of U.S. economic data,” Wincent Senior Director Paul Howard said. He added that a revival in memecoin trading has also helped lay the groundwork for what he expects could be a steady climb toward $100,000 by the end of the year.
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