The price of Bitcoin (BTC) has risen by 12.76% to $24,177.74 at 9 am Sydney time.
Bitcoin currently has a market capitalisation of $467.03 billion.
Bitcoin’s closest peer Ethereum (ETH) is currently higher by 7.76%, trading at $1,673.44
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.