The price of Bitcoin has surged past $90,000 for the first time in 46 days.
According to global virtual asset market tracking site CoinMarketCap, as of 8 a.m. on the 23rd, Bitcoin was trading at $93,168 each. This is an increase of 6.8% from 24 hours earlier and 11.25% from a week ago.
As Bitcoin rises, alternative cryptocurrencies are also soaring. At a similar time, Ethereum was trading at $1,750, marking an 11.1% increase from 24 hours earlier. Other various altcoins, including BNB, Solana, Dogecoin, and Cardano, are also on the rise.
The price of Bitcoin had fallen to $74,000 on the 7th due to a deterioration in investor sentiment caused by a tariff war. However, it has steadily increased since then, and after U.S. President Donald Trump pressured Jerome Powell, the Chair of the Federal Reserve, to cut interest rates, it surged more than 6% over the course of two days.