The price of Bitcoin (BTC) has increased by 3.78% to $29,396.49 at 9 am Sydney time.
Bitcoin currently has a market capitalisation of $569.05 billion.
Bitcoin’s closest peer Ethereum (ETH) is currently lower by 2.05%, trading at $1,904.41.
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.