Bitcoin (BTC) Reaches One-Month High as Traditional Systems Scrambled to Address the CrowdStrike Outage

On Friday, decentralized technology demonstrated its resilience when a global IT outage disrupted banks, media, travel, and numerous other sectors.

As traditional systems encountered difficulties, Web3 markets experienced a surge in activity following a global IT outage on Friday. The outage, caused by a technical issue at U.S. cloud management firm CrowdStrike, impacted numerous sectors, including banks, media, and travel, affecting over 150 million people across the globe.

While traditional Web2 activities decelerated in various regions due to the outage, decentralized technology remained largely unaffected. This resilience was highlighted by Pro-crypto U.S. Senator Cynthia Lummis, who noted that Bitcoin (BTC) continued to operate seamlessly, demonstrating its ability to circumvent centralized failures.

Bitcoin and Cryptocurrency Markets Rise

Amid the Web3 market activity, Bitcoin and the broader cryptocurrency market experienced significant gains. The total cryptocurrency market surged by over 3%, reaching $2.5 trillion for the first time this month. This broad market rally pushed Bitcoin past $66,500, marking a one-month high.

Among the top ten cryptocurrencies by market cap, Solana (SOL) led the gains, soaring more than 9% to reclaim $170. Ethereum (ETH) also saw a 3% increase, bringing its price to $3,500.

PAAL AI Launchpad reported the largest gains across the cryptocurrency market on Friday, with data indicating a surge of over 103% that continued to rise at press time. Other ecosystems, including TRY Stablecoin, Decentralized Identifier, Farming-as-a-Service, and Pump.fun memecoins, also saw increases of at least 20%, contributing to a broadly positive day for digital assets.

In contrast, the S&P 500 and global stock markets experienced slight declines due to the CrowdStrike outage, which affected online trading platforms and stock exchanges in the United States.

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