Summary
Bitcoin reached a high of $47,699 before dropping to $46,700, but quickly rebounded over $47,000. Currently, BTC is up 4.5% in the past 24 hours, outperforming other major cryptocurrencies.
Key Points
1. Bitcoin’s market capitalization surged to its highest level since the launch of the bitcoin ETF, reaching $47,699.
2. However, there was a swift sell-off that caused the price to drop to $46,700, before rebounding slightly over $47,000.
3. Despite the volatility, Bitcoin still outperformed the CoinDesk 20 Index (CD20), with a 4.5% increase in the past 24 hours compared to the CD20’s 3.8% growth.