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The Cryptocurrency Market Is Back Above $2 Trillion, Thanks To The Recovery Of Bitcoin And Ethereum

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The larger crypto market is showing signs of revival, with the market cap of the entire industry currently standing at $2.018 trillion, as the price of Bitcoin (BTC) temporarily surged back above $43,000 on Tuesday morning.

The last time the crypto market was valued at this high, according to CoinGecko data, was on March 3.

Earlier today, the top cryptocurrency reached an intraday high of $43,079 before retracing to $42,779 at press time. Bitcoin’s value has increased by 3.5 percent in the last 24 hours, having last traded at similar levels on March 9.

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Ethereum (ETH) has also boosted the market, as the asset’s price has risen beyond $3,000 for the first time since March 2. According to CoinGecko, the second-largest cryptocurrency is up 3.8 percent in the last day, trading at roughly $$3,007 at press time.

ETH has also gained 16.4 percent in the last seven days, making it the third-best performing cryptocurrency among the top ten largest assets, after only Avalanche (AVAX) and Cardano (ADA).

AVAX, which has been trading sideways at around $88.59 for the past day, is still up 28.9 percent in the previous week, while ADA is up 5.7 percent today and 17.6 percent over the last week.

According to a new Glass Node analysis, the Bitcoin market has now been in a downtrend from its November high of more than $69,000 for mo