Bitcoin surpasses $65,000, hits two-month-high

The world’s first cryptocurrency Bitcoin (BTC) saw its price shoot past $65,000 and hit a new two-month-high level.

According to CoinMarketCap data, Bitcoin is trading at just under $66,500 at the time of writing after seeing its price increase by over 2% over the last 24 hours. This is the highest price reported by the cryptocurrency since the last days of July.

Bitcoin’s current market cap stands at over $1.3 billion, making it the tenth top investment asset by market cap according to Infinite Market Cap data. This makes Bitcoin more valuable than Warren Buffett’s Berkshire Hathaway, which is valued at $987.27 trillion.

Bitcoin is also just behind Facebook’s owner Meta Platforms, with a market cap of $1.429 trillion. Despite that, digital gold is still far from overtaking its traditional counterpart: Gold on the market has a currently estimated market cap of $17.925.

Ethereum also enjoyed a resurgence over the last 24 hours. CoinMarketCap data shows that ETH is trading at just under $2,700 at the time of writing, with its price increasing by 1.2% over the last 24 hours.

The Crypto Fear & Greed Index, a multifactorial measure of crypto market sentiment, currently stands at 61, indicating that greed has gripped the crypto market. In most cases, such a score would suggest that the market may be slightly overvalued — but it is far from a guarantee that the market will soon start to fall.

The market movement follows the United States Securities and Exchange Commission approving Nasdaq’s International Securities Exchange (ISE) to list and trade options on BlackRock’s iShares Bitcoin Trust (IBIT), following a rule change.

Bitcoin is also increasingly becoming a politically charged asset, with former United States president Trump recently passing by a crypto-themed bar where he bought a burger with Bitcoin. This made him the first United States president to publicly use Bitcoin.

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