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Bitcoin climbs near $85,000 as crypto market cap edges higher

Bitcoin rose 1.6% in 24 hours to $84,355.66, while total crypto market capitalization increased to $2.89 trillion.

Reported · Written up by our desk · Bitcoin

Bitcoin rose 1.6% over the past 24 hours to $84,355.66, putting it near its September record high and close to the $85,000 level earlier this month, according to data cited from CoinMarketCap.

CoinMarketCap data also showed Bitcoin market capitalization up 1.6% to $1.69 trillion, with 24-hour trading volume increasing 3.0% to $33.19 billion.

Bitcoin dominance fell 0.9% to 58.6% of the total crypto market, while Ethereum accounted for 11.5%, and the remaining 29.9% was spread across other cryptocurrencies.

CoinMarketCap analysis attributed Bitcoin’s outperformance to a recovery from macro-driven selling pressure, and said Bitcoin has shown a strong 7-day correlation of 85% with the S&P 500 as both rebounded.

Latest closeBitcoin $83,929.53 ▲0.5%|Ethereum $2,718.88 ▲1.1%|S&P 500 7,683.69 ▼0.8%

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