A drop in the US dollar helped drive a jump in stocks and other risk assets.
It was the first time in more than a month that the price had topped $21,000. The rise was cut in half.
The bounce took place as US stocks advanced, pushing the S&P 500, the Nasdaq, and the Dow Jones Industrial Average towards breaking a three week losing streak. The tech-rich index was up 2% during the day.
Risk appetite is back and the US dollar is falling. Edward Moya, senior market analyst at Oanda, said in a Friday note that the broad market rally has rejuvenated crypts and that could continue if investors continue to look beyond the central bank.
The US Dollar fell to its lowest point in more than a week. The index that measures the dollar's performance against six currencies has hit a 20-year high.
For the first time in over a month, ether rose to over $1,700. Solana and cardano went up.
Users of the network are getting ready for a network update on September 13 and 15. The goal of the upgrade is to make the technology more efficient and less expensive for transactions.
The value of the market for cryptocurrencies increased this week. The market cap went from more than $3 trillion in November to less than $2 trillion in December.
FTX will acquire a 30% stake in SkyBridge Capital. The investment firm run by Anthony Scaramucci will use a portion of the funds to purchase cryptocurrencies to hold onto its corporate balance sheet as a long term investment. The deal's financial terms weren't made public.
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