BTC reaches its highest weekly close since December 2021

The dominance of the first cryptocurrency in the crypto market is 50%

12.02.2024 - 12:45

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What’s new? On February 11, bitcoin reached its highest weekly close since December 2021. The asset’s exchange rate amounted to $48 315, the maximum for the last 111 weeks. According to the analytics platform Coinglass, this weekly close was the best for BTC in 2024. On February 12, 11:50 UTC, the coin is traded on Binance at $47 826, down by 1,03% for the day, with a weekly increase of 11,1% (data from the CoinGecko aggregator).

Coinglass’ data

What else is known? On February 5, the total capitalization of the crypto market was $1,63 trillion, and a week later it exceeded $1,87 trillion. BTC dominance is 50% (at the time of writing).

The Crypto Market Fear and Greed Index (F&G) is currently at 70/100. Ahead of the launch of spot bitcoin exchange-traded funds (ETFs), it has been hitting its highest point since the peak of the bull crypto market in 2021, when bitcoin set an all-time high of $69 000.

On February 15, bitcoin mining difficulty is expected to be automatically adjusted. The network figure is expected to increase by ~6%. If this happens, the cryptocurrency’s mining difficulty will reach a new all-time high and exceed 80 T for the first time, according to BTC com.

A similar situation is observed with hashrate, which continues its upward trend this month. The latest data from the MiningPoolStats service shows that the last local maximum of 669 EH/s was reached on February 6.

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