New york: Bitcoin has surpassed the $77,000 mark, marking a significant milestone in the cryptocurrency market's recent upward trend. Most major assets in the cryptocurrency market have seen an increase in value over the past 24 hours.

According to Azeri-Press News Agency, the CoinMarketCap platform reported that Bitcoin rose by 1.26% over the past 24 hours, reaching $77,327.45. Other cryptocurrencies also experienced gains, with Ethereum increasing by 1.74% to $2,474.28 and BNB rising by 3.73% to $751.54. Monero saw a 3.67% increase to $518.46. Bitcoin Cash and Bittensor surged by 11.52% and 7.75%, respectively.

Zcash recorded one of the largest increases, climbing by 7.76% over the past 24 hours to $1,488.60, with a substantial gain of 194.14% over the past 30 days. Gold-backed cryptocurrencies also saw an uptick in value, with Tether Gold (XAUT) rising by 1.28% to $4,338.01 and PAX Gold (PAXG) increasing by 1.19% to $4,335.22.

The CoinMarketCap 20 index increased by 1.90% to 160.65 points. The cryptocurrency market's recent gains come as it recovers from previous losses. However, the Federal Reserve's decision to raise interest rates by 25 basis points to a range of 3.75-4% and its indication of another potential increase this year continue to exert pressure on risk assets. Additionally, regulatory uncertainty persists following the US Senate's failure to advance the Clarity Act, which aims to establish a regulatory framework for cryptocurrencies.