Crypto Market Cap Briefly Tops $3 Trillion as Bitcoin Nears $86,000
Summary
- The total cryptocurrency market capitalization rose above $3 trillion during intraday trading and was up about 4.3% over the past 24 hours.
- Bitcoin gained about 4.5% to trade near $86,000, while Dogecoin (DOGE) rose about 11%.
- Open interest in perpetual crypto futures increased to about $160 billion, while U.S. spot Bitcoin ETFs saw about $1 billion in net inflows.
Forecast Trend Report by Period
The total cryptocurrency market capitalization briefly climbed above $3 trillion, driven by gains in Bitcoin and major altcoins.
Cointelegraph reported on September 22 that Bitcoin was trading near $86,000, up about 4.5% from 24 hours earlier. Ether rose 2.3% to $2,745, while XRP gained 5.7% to $1.53.
Solana advanced 3.6% to $117, and BNB added 1.6%. Dogecoin climbed about 11%, marking one of the largest gains among major cryptocurrencies.
The total crypto market cap moved above $3 trillion during intraday trading before slipping slightly below that level as of publication. It was still up about 4.3% on a 24-hour basis.
Leverage in derivatives markets is also increasing. Open interest in perpetual crypto futures climbed to about $160 billion, the highest level since late October last year. During the previous day's price surge, about $920 million of bearish positions were liquidated.
U.S. spot Bitcoin exchange-traded funds recorded about $1 billion in net inflows the previous day, the largest daily inflow since October last year.
