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The market cap of Bitcoin, the world's largest cryptocurrency, was around $530 billion. Bitcoin's dominance is currently 48.89%, according to CoinMarketCap. Meanwhile, BTC volume in the last 24 hours stood at approximately $14.58 billion, falling 52.55% in the last 24 hours.
Other top crypto tokens were also trading higher on Wednesday. Solana rose 6.4%, while Toncoin surged 14%, and Dogecoin gained over 4%. BNB, XRP, and Polkadot also surged.
"Bitcoin has been trading around the $26000 threshold over the weekend. However, the price of Bitcoin and market sentiments have been improving after there was positive commentary from JPMorgan analysts who said that Bitcoins downtrend could be ending," said Edul Patel, CEO and co-founder of Mudrex.
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Bitcoin has been trading above the $26000 level. This could be indicative of the market awaiting a decision on the Bitcoin-ETF in the US, Edul Patel, CEO and co-founder of Mudrex said.