Baku: Positive momentum continued in the cryptocurrency market over the past 24 hours, APA-Economics reports, citing CoinMarketCap data. According to Azeri-Press news agency, the global cryptocurrency market capitalization increased by 0.83% over the past 24 hours to $2.26 trillion. The CMC20 Index also rose by 1.01% to 135.15 points. Bitcoin (BTC), the largest cryptocurrency by market value, gained 1.34% over the past 24 hours, reaching $66,318.45. Gold-backed Tether Gold (XAUt) rose by 1.85% to $4,116.40, while PAX Gold (PAXG) increased by 1.87% to $4,113.85. Meanwhile, Ethereum (ETH) climbed 0.65% to $1,935.50, while BNB fell 0.34% to $571.64. Among the top cryptocurrencies, Bittensor (TAO) and Monero (XMR) posted the strongest daily gains with increases of 2.74% and 2.47%, respectively. The steepest decline was recorded by Zcash (ZEC), which lost 4.44% of its value over the past 24 hours. Growing risk appetite among investors and expectations that the U.S. Federal Reserve may cut interest rates in th e coming months supported buying activity in the cryptocurrency market. At the same time, persistently high gold prices on international markets contributed to gains in gold-backed tokens such as Tether Gold and PAX Gold.