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The rise of Bitcoin (BTC-USD) over the past year stands at a remarkable 157% and nearly 63% so far this year.
The leading cryptocurrency reached above $72,000 on Monday; just after a week, it had touched around the $65,000 level.
Bitcoin is currently changing hands at about $72,140, with market capitalization rising to about $1.42 trillion.
Cryptocurrencies are expected to be in the spotlight for some time due to the halving event, which is soon approaching.
After every four years, new token issuance goes down by half during this event.
Previously, halving events were associated with bitcoin price gains.
Positive momentum isn’t limited to Bitcoin alone; other digital tokens also recorded significant gains. Ether (ETH-USD) increased by 6.4% to $3,608, while Cardano (ADA-USD) rose 2.44% and Solana (SOL-USD) rose by 1%.
Even smaller tokens referred to as meme coins registered gains too; Dogecoin (DOGE-USD) jumped up by almost 5%, and Shiba Inu (SHIB-USD) gained around 3.2%.
The spike in bitcoin's price has also had an impact on crypto-related stocks. Coinbase Global (NASDAQ:COIN) rose by 5%, Riot Blockchain (NASDAQ:RIOT) climbed 5.9%, Marathon Digital Holdings (NASDAQ:MARA) was up 7.6%, Hut 8 Mining (NASDAQ:HUT) gained 5.8%, CleanSpark (NASDAQ:CLSK) jumped by 7.4%, MicroStrategy Incorporated (NASDAQ:MSTR) surged 12.2%, Cipher Mining (NASDAQ:CIFR) saw an 8% increase, Stronghold Digital Mining (NASDAQ:SDIG) rose by 2.3%, Bitdeer Technologies Holding Company (NASDAQ:BTDR) climbed 3.4%, and Bakkt Holdings (NYSE:BKKT) rose 6%.
More on crypto:
- Marathon Digital: Priced For Big BTC Gains Already (Rating Downgrade)
- CleanSpark: A Buy Ahead Of The Halving
- CleanSpark May Benefit From The Bitcoin Halving Event
- CleanSpark, Marathon, Riot gap down as bitcoin dips: week's financials roundup
- Bitcoin off to a slow start in Q2, falls 2.6% week-on-week