- BTC is comfortably trading above the very important $20k psychological level.
- A positive performance for BTC could have a good effect on the NFT market.
- The NFT trade count and volume has increased in the past as the price of BTC increases.
The crypto market leader Bitcoin (BTC) is showing some signs of recovery as the crypto is once again comfortably trading above the very important $20k psychological level. According to the crypto market tracking website CoinMarketCap, BTC is currently trading hands at $21,263.89 after a 0.70% price increase over the last 24 hours. The crypto king was also able to reach a high of $21,438.66 and a low of $21,109.59 over the same time period.
This boosted the crypto’s weekly performance as BTC is still in the green by more than 21% over the last seven days. BTC did, however, weaken against its biggest competitor, Ethereum (ETH)+ over the last day by about 0.47%.
On the other hand, BTC’s 24-hour trading volume is also in the green zone and now stands at $24,529,405,860 after a more than 3% increase since yesterday. The market leader’s market cap now stands at around $409,944,291,916.
BTC’s good performance over the last few days could mean good news for those interested in the NFT industry. A recent Tweet by the market intelligence firm explained how BTC’s positive performance could have a good effect on the NFT market.
According to the post, history shows that NFT tokens and assets typically garner big interest as the price of BTC recovers. Santiment also included a chart indicating how the NFT trade count and volume have increased in the past as the price of BTC increased.
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