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The price of Bitcoin [BTC] has surged above $42,000 – a level never seen before since the Terra crash – for the first time since April 2022, while Ether [ETH] has surpassed $2,200. Bitcoin’s price has been hovering around the $40,000 mark in recent days, but on Monday it surpassed $41,600 at the time of writing this article, according to CoinDesk Indices data, with a 6% increase in 24 hours. Ether was trading around $2,240, a similar percentage gain.
This upward movement has also pushed up crypto stocks. Cryptocurrency exchange Coinbase (COIN) jumped nearly 9% in pre-market trading, as did Microstrategy (MSTR). Cryptocurrency miners like Marathon Digital (MARA) and Riot (RIOT) gained over 10%. The other top 10 cryptocurrencies by market capitalization saw smaller gains, and the BNB (BNB) coin, an affiliate token of the Binance exchange, remained relatively unchanged.