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Crypto Market tops $2 Trillion for the First Time in Nearly 3 Months as Bitcoin Rallies

Bitcoin topped $48,000 over the weekend, its highest level since mid-May but pared some of those gains on Monday. On Saturday, the digital coin hit $48,126.47, its highest level since May 17, according to Coindesk data. Around 2:49 a.m. ET on Monday, bitcoin was trading at $47,442.40. The bitcoin recovery comes after it sold off heavily in June and July, even dropping below $30,000 following a record high of over $64,000 in April.