The price of Bitcoin (BTC) has risen by 2.52% to $23,477.35 at 9am Sydney time.
Bitcoin currently has a market capitalisation of $452.47 billion.
Bitcoin’s closest peer Ethereum (ETH) is currently higher by 1.45%, trading at $1,620.53
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.