2023 began positively as the market displayed a banger rally with Bitcoin and other altcoins displaying double-digit gains. 2022 was collectively one of the most challenging crypto winters in history. The falling prices and the fall of two cryptocurrency giants made things even worse for the market. While the community anticipated a positive rally in 2023, the market has delivered as expected.

Over the weekend, Bitcoin briefly reached $21,075 after previously trading in the $16,000 to $17,000 region. Bitcoin has increased by 22.39% over the past seven days, according to CoinMarketCap. It is currently trading at $20,732, down 0.77% from its 24-hour high as of the time of publication.

Around the past seven days, Ethereum and other significant altcoins have both seen gains of over 21.4%. ETH reached a high of $1,563 from a monthly low of $1,160 before dropping to its current price of $1,532.

The market capitalization of all cryptocurrencies worldwide has reportedly surpassed 41 trillion dollars and is presently $1.02 trillion, according to Coingecko data. Solana, a significant altcoin, showed the most gain over the past seven days, increasing by 71%.

The overall cryptocurrency market is experiencing a green surge. It is not yet obvious whether this signals the conclusion of the year-long bear market and the start of a strong bullish recovery.