Top Cryptocurrencies Rise; Bitcoin Tops $85,000

Major digital assets rose late Wednesday afternoon with Bitcoin (BTC/USD) topping $85,000. The CoinDesk Market Index, which tracks dozens of digital assets including Bitcoin, gained 5.3% in the past 24 hours. The Nasdaq 100 rose 1.4% in late trading, the S&P 500 climbed 1.1% and Dow Jones Industrial Average increased 0.9%. Bitcoin rose 4.1% at $85,428, according to CoinMarketCap data. The most popular cryptocurrency's 24-hour trading volume surged almost 36% to $32.2 billion. Ethereum (ETH/USD), the second-largest digital asset by market value, jumped 7% to $2,033. XRP (XRP/USD) surged almost 11%, BNB (BNB/USD) fell 2.3%, and Solana (SOL/USD) gained 7.5%. Dogecoin (DOGE/USD) rose 5.1%, while Cardano (ADA/USD) advanced 5.6%. The US 10-year Treasury yield stood at 4.254% at 3 p.m. ET Wednesday, down from 4.279% Tuesday, while the five-year yield fell to 4.029% from 4.070%. The total market value of the cryptocurrency industry increased 4.2% in the past 24 hours to $2.8 trillion, with trading volume rising 38% at $97.1 billion.