Cryptocurrency Market Value Surges To $2.75T As Bitcoin Exceeds $85K

The total valuation of the global cryptocurrency market expanded to $2.75 trillion on Tuesday, as Bitcoin surpassed the $85,000 threshold, amidst price fluctuations fueled by apprehensions of a U.S. economic downturn and subdued investor confidence.
Data provided by indicated that the global cryptocurrency market cap hovered around $2.75 trillion, representing a 3.27% increase over the preceding day. Bitcoin, Ethereum, and other prominent digital assets experienced a moderate surge amidst global economic uncertainties and trade tensions.
The aggregate trading volume for the cryptocurrency market over the past 24 hours reached $77.43 billion, marking a 5.23% decrease. Data revealed that the total volume in decentralized finance (DeFi) was recorded at $5.46 billion, constituting 7.06% of the total 24-hour cryptocurrency market volume. Additionally, the trading volume of all stablecoins approached $73.12 billion, representing 94.44% of the total 24-hour cryptocurrency market volume.
Most major digital assets experienced gains late Tuesday, with Bitcoin (BTC-USD) exceeding the $85,000 mark. The CoinDesk Market Index, which monitors numerous digital assets including Bitcoin, registered a 2.19% increase over the past 24 hours.
The Nasdaq 100 rose by 0.9%, the S&P 500 increased by 0.4%, and the Dow Jones Industrial Average experienced a fractional decline. Bitcoin appreciated by 3.0%, reaching $85,096, according to CoinMarketCap data. The 24-hour trading volume of the most popular cryptocurrency decreased by 2.8%, amounting to $28.12 billion.
Ethereum (ETH-USD), the second-largest digital asset by market capitalization, also increased by 4.4%, reaching $1,908. XRP (XRP-USD) rose by 1.9%, BNB (BNB-USD) increased by 0.3%, and Solana (SOL-USD) was up by 1%.
Dogecoin (DOGE-USD) appreciated by 3.5%, and Cardano (ADA-USD) added 3.2%. The yield on the 10-year U.S. Treasury note stood at 4.156%, down from 4.244% on Monday, while the five-year yield fell to 3.906% from 3.981%.