Bitcoin breaks back above $50,000-level amid crypto rally

Bitcoin breached the key $50,000-level once again as the wider cryptocurrency market continued its rally. The largest cryptocurrency rose as high as $50,363 on Monday, having briefly surpassed $50,000 on Aug 23 as well -- a level it hadn’t hit since mid-may. Ether, the second-largest crypto, rose as much as 3 per cent to $3,843, continuing a strong run after its London upgrade early last month. Other coins also gained, with the overall crypto market cap jumping 5 per cent to $2.3 trillion, according to Coingecko.com pricing. Number-three crypto Cardano is nearing a $100 billion market value amid optimism about smart contracts, and Solana and Polkadot are up about 60 per cent and 22 per cent, respectively, in the past seven days, Coingecko showed.