The price of bitcoin, the world’s largest cryptocurrency by market capitalization, jumped 6.5 percent Sunday to rise back above $4,000, its highest point in two weeks.
CoinDesk data shows bitcoin’s (BTC) price spiked $262 on Monday at 17:10 UTC to $4,063, a move accompanied by a large injection of volume.
Bitcoin’s market capitalization has also risen substantially, up $4 billion on the day to $70.73 billion, its highest point since Dec. 25. The move signal an expansion beyond the yearly low of $3,650 and an opportunity to push higher this week, based on current price action and momentum.
The total market capitalization of all cryptocurrencies is up $6.1 billion from yesterday’s top of $132 billion and is currently sitting just above $138.1 billion CoinMarketCap data shows.