Bitcoin rate tested the mark of $24 thousand

Bitcoin rate tested the mark of $24 thousand

Author: Robert Strickland (crypto expert)

Bitcoin rate tested the mark of $24 thousand.
The value of the first cryptocurrency rose by $1 thousand for half a day against the background of the release of positive data on business activity in China in February

Bitcoin rate tested the mark of $24 thousand. March 1, the day value of the first cryptocurrency on the exchange Coinbase and Bitfinex exceeded $ 24 thousand, at Binance and OKX reached the mark of 24 thousand USDT.

Bitcoin last traded at this level on February 24. Since then, its rate has fallen and ranged from $22.9 thousand to $23.7 thousand.

The cost of the asset on the night of March 1, fell to $23 thousand, but during half a day rose by $1 thousand. According to Coindesk, the bitcoin rate went up against the release of data on industrial activity in China, which in February showed the maximum growth in more than a decade.

According to China's National Bureau of Statistics, the country's manufacturing activity index (PMI) rose to 52.6 points in February from 50.1 points a month earlier. An index value above 50 indicates an increase in activity. The non-manufacturing sector activity index rose to 56.3 points from 54.4 points in January.

Positive news from China soothed investors' fears of slower economic growth and increased their appetite for risk. The publication notes that it had a negative impact on the U.S. dollar against major world currencies, but pushed up the Chinese stock market and risky assets such as bitcoin.

As of 18:00, the first cryptocurrency is trading at $23,700. According to CoinGecko, bitcoin gained 1.5% overnight.

Leading altcoins also showed growth. Ethereum rose 1.1% per day to $1.66, the price of Polygon rose 1.7% to $1.25, the rate of Solana rose 1.3% to $22.74. The total market capitalization of cryptocurrencies increased by 1.1% to $1.13 trillion.


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