The price of Bitcoin (BTC) has increased by 1.39% to $28,482.78 at 9 am Sydney time.
Bitcoin currently has a market capitalisation of $550.67 billion.
Bitcoin’s closest peer Ethereum (ETH) is currently higher by 1.75%, trading at $1,824.05.
Together Bitcoin and Ethereum make up almost 60% of the total cryptocurrency market.
This means that the prices for Bitcoin and Ethereum can indicate the direction of the market more broadly.