Thursday, July 3, 2025

Bitcoin Sent Rallying as Omicron Fears Fade

Cryptocurrencies enjoyed a strong rally on Monday, following a week of havoc in markets after the World Health Organization revealed a new strain of Covid-19 is spreading around the world.

Bitcoin, the world’s largest cryptocurrency, was up by more 5% on Monday to around $58,000 at the time of writing, while ethereum, the second largest virtual currency, jumped by nearly 6% to above $4,200. Other major cryptocurrencies also pared back last week’s losses, with the Binance coin up by over 2.3%, and memecoins Shiba Inu and dogecoin also following upwards in sympathy.

The rally caused the total global cryptocurrency market cap to jump by nearly 6% to around $2.58 trillion; but as CoinDesk warns, virtual currencies are not out of the woods just yet, as investors await further details surrounding the potential economic impact of Omicron. Meanwhile, one of bitcoin’s largest investors, MicroStrategy, took advantage of last week’s crypto slump and purchased approximately 7,002 bitcoins totalling a cash transaction of about $414.3 million between October 1 and November 29.

Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Gold Drilling Scaled to 60,000 Meters: How Big Can This Get? | Roger Rosmus – Goliath Resources

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

What Pushes The SEC For A Possible Bitcoin ETF? – The Daily Dive

On this Daily Dive episode, Cassandra chats with one of our regular guests Mike McGlone,...

Monday, October 18, 2021, 01:30:00 PM

Hut 8 Mines 265 Bitcoin In November 2021

Hut 8 Mining Corp. (TSX: HUT) reported today its production results for the month of...

Thursday, December 2, 2021, 09:27:00 AM

Bitcoin Plummets Below $50K as Markets React to Biden’s Capital Gains Tax

Bitcoin and other major cryptocurrencies plummeted on Friday, after details surrounding the Biden administration’s proposed...

Friday, April 23, 2021, 04:05:00 PM

Nextech AR Shaken Out Of Bitcoin Position After Just Three Weeks

After announcing the purchase of bitcoin just three weeks ago, Nextech AR Solutions (CSE: NTAR)...

Friday, January 22, 2021, 08:03:47 AM

JPMorgan Finally Determines Bitcoin’s Intrinsic Value, Putting Price Speculation to Rest

The last few years for Bitcoin have been somewhat of a roller coaster; the cryptocurrency...

Thursday, May 28, 2020, 12:59:24 PM