Markets Surge as Bitcoin Flirts With $50,000

Monday has brought a sea of green to the crypto markets, as Bitcoin tops the $50,000 mark for the first time since Dec. 2021.

The top crypto asset briefly reached $50,256, according to Coingecko, but has since retraced slightly below the $50K mark, marking an impressive 17% gain over the past seven days. Its market cap is near $1T, currently sitting at $980B.

Fueling the widespread rally seems to be reports that spot Bitcoin ETFs continue to attract substantial inflows. Money also appears to be rotating into other crypto assets as investors pile into altcoins.

Ether has surged, notching up a 4% gain on the day, and is currently changing hands for $2,620.

Every top 10 digital asset is up today, with Cardano and Chainlink posting the biggest gains of the day. The former trades for $0.56, a 3.4% jump today, while LINK has rallied 3.3%.

Only a handful of the top 100 tokens are registering a red day. Dymension (DYM) is down 3.1%, trading for $7.29, trailed by Pyth Network, which has dropped 2.7%.