Crypto Markets Add $130 Billion Overnight, Bitcoin Skyrockets to $42K (Market Watch)

Following a few-day period of declines and choppy price action, the cryptocurrency markets finally showed some strength and recovered some of the losses. This happens on the back of Bitcoin’s surge to $42K.reported earlier today, there was a press release leaked on the US Treasury Department’s website, which revealed some of the information on President Biden’s executive administrative order on cryptocurrencies.

Bitcoin’s price needed nothing else to soar during Europe’s early hours trading session and surged above $40,000 to reach $42.1K, where it’s currently trading. This also enabled the total cryptocurrency market cap to add about $130 billion overnight. At the time of this writing, BTC’s price charts an increase of 8.2% in the past 24 hours alone.As it’s almost always the case, altcoins followed Bitcoin’s price and also charted impressive gains.

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