Bitcoin has exceeded the level of $26 thousand for the first time since July 2022

The cost of bitcoin has exceeded $26.000 for the first time since July 13, 2022. The current quote of the most popular cryptocurrency reached $26.529 on Tuesday, rising by more than 15%.

The cryptocurrency has been getting more expensive for the fourth day in a row, having recovered from the $20 thousand area. Over all these days, bitcoin has gained a little more than 28%.

The growth driver was the collapse of one of the largest American banks in the United States, Silicon Valley Bank (SVB), which became the largest bank failure in the States after the 2008 financial crisis. In addition to SVB, Signature Bank and crypto-oriented bank Silvergate were closed in the USA due to systemic risks. 

Thus, along with the crisis in the US banking sector, increased volatility came to the cryptocurrency markets.

Ethereum also updated the maximum since February 21, exceeding the $1.7 thousand mark. During the day, the second most popular cryptocurrency rose in price by 5.1%. In general, the market capitalization of cryptocurrencies has grown by 5.8% over the past day, amounting to $1.12 trillion. 

The share of bitcoin in the market is 41.87%, Ethereum – 18.16%, the third leader, Tether (USDT), occupies a 6.57% share.