Bitcoin reaches highest level since May 2022

The price of the world’s largest cryptocurrency rose four percent during the day to hit $37,104, the highest since May 5, 2022.

Ethereum, the world’s largest altcoin by market value, also rose to $1,929 at the same time, its highest since July 17, 2023.

The data showed that the total value of the crypto market registered an increase of 3.3 percent to $1.38 trillion during this time, while Bitcoin’s share of the crypto market, known as the dominant one, was at 52.4 percent.

Recent growth has been fueled by Cryptocurrency Exchange Traded Funds receiving regulatory approval in the US and the growing interest of professional investors in cryptocurrencies.