Crypto Prices Today: Bitcoin Crosses $47K, Ethereum at $2.5K, PEPE Recovers As Bonk Leads Rally

The crypto prices today suggest that the top digital currencies registered gains as Bitcoin (BTC) surpassed the $47,000 mark. Whilst, Ethereum surged past the $2,500 level and registered a significant upswing.

Timeline of Bonk1, Bitcoin, Ethereum, Pepe

According to data from CoinMarketCap, Bitcoin (BTC) has maintained its upward price trajectory over the last day, gaining by 4.04% to briefly trade above the $48,000 mark. As BTC now hovers around the $47,100 price zone, investors and market experts remain highly speculative about the token's next action.

The price of Bitcoin has been on a tear in the past few days, returning to the lofty levels it once occupied at the beginning of the year. Interestingly, not only has BTC's price been on the rise, but the coin's open interest has also witnessed significant growth in the past few days.

Bitcoin (BTC), the largest cryptocurrency in the market by trading volume and capitalization, has embarked on a renewed bullish uptrend, reclaiming previously lost territories and surpassing resistance levels, igniting optimism among investors. Currently trading just below its 25-month high of $49,000 at $47,900, Bitcoin has experienced a remarkable price increase of over 6% within 24 hours and a significant 11% surge over the past seven days.

Bitcoin (CRYPTO: BTC) has made a remarkable recovery this week, and according to a Standard Chartered analyst, this could lead to a $100,000 price point by the end of 2024. What Happened: After a disappointing January, Bitcoin has seen a significant surge, reaching its highest level in 2024.

Ethereum (ETH) is showing a noteworthy pattern in the options market. According to data from Deribit, a leading platform for crypto futures and options trading, there's a significant concentration of call options for ETH around the $4,000 strike price for both the June and September expiries.

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In less than 30 days since their debut, new entrants of spot Bitcoin exchange-traded funds (ETFs), which include BlackRock (IBIT), Fidelity (FBTC), Ark 21Shares (ARKB), Invesco (BTCO), Bitwise (BITB), Valkyrie (BRRR), Franklin Templeton (EZBC), WisdomTree (BTCW), and VanEck (HODL) have collectively racked up over 200,000 BTC in assets under management, not counting Grayscale's converted fund.

As the cryptocurrency market braces for the forthcoming Bitcoin Halving event slated for April 2024, recent data from Bitfinex has unveiled a noteworthy trend among Bitcoin miners. According to the latest Bitfinex Alpha report, miners' reserves have experienced a significant surge in outflows, marking their lowest levels since June 2021.

The Ethereum community is excitedly buzzing after the seamless deployment of the Dencun upgrade on the Holesky testnet Wednesday, signalling a significant milestone for the crypto network. This groundbreaking development ignited a surge in Ethereum's value, with the price soaring to an impressive $2,425.

Piers Morgan, alongside his guest Jordan Belfort, famously known as the "Wolf of Wall Street," touched upon the volatile world of cryptocurrency trading in the recent episode of Piers Morgan Uncensored.