The price of Bitcoin (BTC) has risen by 7.45% to $18,864.90 at 9am Sydney time.
Bitcoin currently has a market capitalisation of $363.34 billion.
Bitcoin’s closest peer Ethereum (ETH) is currently higher by 6.41%, trading at $1,427.95
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.