From Nasdaq:

Major cryptocurrencies experienced a surge on Wednesday evening, with Bitcoin seeing a 5.37% increase to $52,144, Ethereum experiencing a 6.41% increase to $2,795, and Dogecoin surging 7.91% to $0.087.

Bitcoin surged to $52,000, marking its highest value in 26 months and pushing its market cap over $1 trillion after a brief drop below $50,000 in response to hot inflation data.

Global cryptocurrency market cap now stands at $1. trillion, showing a 2.71% increase in the past 24 hours.

Stocks rebounded on Wednesday with the S&P 500 surging by 0.96% and the Nasdaq Composite seeing a 1.3% gain. Notably, the surge lifted crypto-related equities as well.

Crypto analyst Michael Van de Poppe reports Bitcoin’s breakthrough above $51,000, reaching a new yearly high and predicts a potential peak of $54-58K pre-halving.

On-chain analyst Ali Martinez notes that the quantity of Bitcoin held in identified cryptocurrency exchange wallets has decreased to the lowest level in six years, currently amounting to just 2.34 million BTC.



Read more: Bitcoin, Ethereum, Dogecoin Surge In Valentine’s Day Market Rally: Analyst Predicts King Crypto Will ‘Quite Likely’ Hit $60K