Bitcoin eyes $67k amid CrowdSpark outage debacle 

Bitcoin and the cryptocurrency market are on the rise as traditional systems race to resolve the CrowdSpark outage.

Decentralized technology proved its worth once again on Friday when a global IT outage disrupted banks, media, travel and most daily operations.

Web3 markets have exploded as Web2 activity creeps up in some parts of the world, with over 150 million people reportedly affected. Pro-crypto US Senator Cynthia Lummis used the situation to remind the public of Bitcoin’s (BTC) ability to operate seamlessly and bypass central points of failure.

Do you know which currency is immune to widespread cyber outages? Bitcoin.

Vires in Numeris

— Senator Cynthia Lummis (@SenLummis) July 19, 2024

Bitcoin hits one-month high

The total crypto market cap is up over 3%, reaching $2.5 trillion for the first time this month. The widespread market rally has pushed Bitcoin above a one-month high of $66,500. Solana (SOL) led the market gains among the top 10 cryptocurrencies by market cap. SOL is up over 9% to reclaim $170, while Ethereum (ETH)’s 3% price increase has pushed the asset to $3,500.

BTC Soars as CrowdSpark Outage Shocks World

PAAL AI Launchpad claimed to have made the biggest gains of any cryptocurrency market on Friday, with data showing the sector was up over 103% and bullish at press time.

Ecosystems such as TRY Stablecoin, Decentralized Identifier, Farming-as-a-Service, and Pump.fun memecoins also rose by at least 20% as the digital asset market had a green day. Conversely, the S&P 500 and global stock markets fell slightly due to the CrowdSpark disaster.

It looks like there’s a global outage and many IT systems are down: airlines, banks, emergency responders and media outlets.

However #Bitcoin continues to work.

Block by block.

—Nic (@nicrypto) July 19, 2024