The price of Bitcoin [BTC] reached $40,000 on Sunday for the first time since early May 2022, while Ethereum [ETH] crossed $2,200 amid a broader, albeit moderate, rally in crypto markets.
Bitcoin price had been toying with the $40,000 mark in recent days but finally surpassed it on Sunday and was at about $40,130 at press time, according to data from CoinGecko, up about 2% in 24 hours. Ethereum traded at $2,205, a similar percentage increase in the last 24 hours. Most of the other top 10 cryptocurrencies by market cap posted smaller gains, although BNB coin, a token linked to the Binance exchange, lost about 0.1% over the past day.
Likewise, Ethereum has not traded above $2,200 since May 2022, despite coming close to it on several occasions.
As CoinDesk reported earlier this week, Bitcoin holders withdrew 37,000 BTC between November 17 and December 1, suggesting they are taking direct custody of their coins.
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