Bitcoin surges above $21,000, Ether over 9%

Washington: Bitcoin surged over $21,000 on Saturday amid optimism that it may have bottomed and inflation may have peaked, Bloomberg reported.

The largest cryptocurrency rose as much as 7.5 per cent to $21,299. It hadn’t been above $20,000 since November 8, and Saturday marked its 11th straight day advancing.

Second-largest Ether surged as much as 9.7 per cent, and other tokens like Dogecoin also notched solid gains. The overall market cap of the crypto universe rose above $1 trillion for the first time since early November , according to data from CoinGecko.

The gains came amid a report on consumer prices last week that showed inflation declining in January from December levels.