Crypto Market Value Climbs Back Above $2 Trillion in Broad Rally

Bitcoin hovered around $52,000 after a broad cryptocurrency rally that saw Ether, the second-biggest token, advance back to where it was before the TerraUSD stablecoin collapsed almost two years ago.

Bitcoin’s almost 25% year-to-date gain has helped to lift the market capitalization of digital assets above $2 trillion for the first time since April 2022, data from CoinGecko show. Bitcoin and Ether were up more than 2% at one point on Thursday in New York, with the latter changing hands at $2,852 as of 9:59 a.m.

Sector-specific factors have been supporting Bitcoin, including the debut of US exchange-traded funds ...