Crypto Market Cap Briefly Reclaims $3 Trillion as Bitcoin Nears $86,000
Summary
- The total cryptocurrency market capitalization briefly recovered $3 trillion as Bitcoin and major altcoins gained.
- Major cryptocurrencies including Bitcoin, Ether and Dogecoin posted gains over the past 24 hours.
- Open interest in perpetual futures rose to $160 billion, while U.S. spot Bitcoin ETFs saw $1 billion in net inflows.
Forecast Trend Report by Period
The total cryptocurrency market capitalization briefly reclaimed $3 trillion, driven by gains in Bitcoin and other major altcoins.
Cointelegraph reported on September 22 that Bitcoin was trading near $86,000, up about 4.5% from 24 hours earlier. Ether rose 2.3% to $2,745, while XRP gained 5.7% to $1.53.
Solana climbed 3.6% to $117, and BNB added 1.6%. Dogecoin jumped about 11%, outpacing other major cryptocurrencies.
The total crypto market cap moved above $3 trillion during the session before slipping slightly below that mark as of publication. It was still up about 4.3% on a 24-hour basis.
Leverage in the derivatives market is also increasing. Open interest in crypto perpetual futures rose to about $160 billion, the highest level since late October last year. About $920 million in short positions was liquidated during the previous day's sharp price rally.
U.S. spot Bitcoin exchange-traded funds posted about $1 billion in net inflows the previous day, the largest daily inflow since October last year.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.