Cryptocurrencies rise, bitcoin trades above $62,500
Crypto markets rebound as Bitcoin moves back above $62,500
Cryptocurrencies rose today, June 8, with bitcoin trading above $62,500 as investors monitored tensions in the Middle East that threaten a fragile ceasefire.
The move comes after the world’s largest cryptocurrency by market value fell below $60,000 at the end of last week for the first time since US President Donald Trump’s 2024 election victory, following comments from Strategy Executive Chairman Michael Saylor indicating further sales of the company’s bitcoin holdings.
Over the past week, bitcoin dropped around 18%, pressured by renewed geopolitical tensions, investor outflows from bitcoin ETFs, and growing concerns over the sustainability of long-term holding strategy.
Cryptocurrency prices
|
Currency |
Price |
Change |
Change (%) |
|
BTC |
62,596 |
+1,292 |
+2.09% |
|
ETH |
1,650.62 |
+39 |
+2.47% |
|
XRP |
1.1343 |
+0.0022 |
+0.19% |
*Prices were updated at 08:52 AM Makkah time.
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