Bitcoin (BTC) jumped to a high of $62,729 on Thursday, a more than 26% jump from its Aug. 5 low of $49,577 just three days earlier. The broader cryptocurrency market, which covers more than 10,000 digital currencies, has seen an 11.29% gain in the past 24 hours, with many assets posting double-digit gains.
Bitcoin Hits Intraday High of $62,729 as Dozens of Crypto Assets Post Double-Digit Gains
The crypto economy is making a strong recovery after a sharp decline over the weekend and a rough start to the week on Monday. That day, BTC fell to levels not seen since February 2024, hitting $49,577 per coin. Three days later, it surged 26% to reach an intraday high of $62,729, and by 8 p.m. ET on August 8, BTC was trading at $61,611 per coin. Over the past 24 hours, BTC has gained 11.2% against the U.S. dollar.
Ethereum (ETH) also had a strong day, rising 13.5% in the 24-hour period. ETH reached $2,723 before settling at $2,668 per coin by 8 p.m. BNB saw a more modest gain of 7.99%, toncoin (TON) rose 13.6%, solana (SOL) rose 11.2%, and dogecoin (DOGE) also saw gains of 11%. During the day’s trading activity, US spot bitcoin exchange-traded fund GBTC saw a significant decline of $182.94 million, according to statistics from sosovalue.xyz.
Meanwhile, Wisdomtree’s BTCW fund, which saw much smaller aggregate net inflows than its peers, managed to attract $118.52 million. As for ETH, Grayscale’s Ethereum Trust (ETHE) saw outflows of $19.83 million on Thursday. However, Grayscale’s Mini Ethereum Trust (ETH) amassed $5.02 million. Thursday’s data from the other funds remains incomplete, leaving the overall net inflow or outflow for the entire group uncertain.
