Bitcoin and Ethereum Jump 6% as Market Reaches $1 Trillion

Cryptocurrency markets witnessed a sudden upward movement in the early hours of Tuesday as the price of Bitcoin (BTC) again reclaimed the $20,000 level.

The leading cryptocurrency, which traded below $19,000 on Monday, is up 6.4% over the past day, and is currently trading at a 10-day high of $20,199, according to data from CoinGecko.

While investors are hoping that the recent price action will point to a fresh bullish rally, this is still a far cry from the asset’s all-time high of more than $69,000 that was hit last November. As of today, Bitcoin is down nearly 71% from all-time highs and down 57% since the beginning of the year.