$175 Billion: Ethereum, Bitcoin Prices Lead Crypto Market Rally

The bitcoin price and ethereum price continued to climb on Saturday, ticking up just enough to pass significant thresholds. The wider markets made moderate gains as well, enabling the total cryptocurrency market cap to rise above $175 billion for the first time since the beginning of September.

On Friday, the combined value of all cryptocurrencies crossed the $170 billion checkpoint, highlighting the degree of its recovery since last month’s pullback. It continued to rise throughout the day, eventually reaching a present value of $175.2 billion, placing it just $5 billion below the all-time high it set before the downturn.

​Bitcoin Price Inches Above $5,700

JPMorgan chief executive Jamie Dimon broke his self-imposed moratorium on discussing bitcoin after just 24 hours, lashing out at “stupid” bitcoin buyers who he says will “pay the price” when its value crashes to zero. Traders met his rant with little more than a yawn, however, and the bitcoin price ticked up another 1.5%, bringing it across the $5,700 barrier to a present value of $5,732. Bitcoin maintains a market cap of about $95.3 billion, making it several billion dollars larger than Goldman Sachs.

​Bitcoin Dominance Holds Above 50%