Bitcoin climbs above 28.5K dollar for 1st time over a month

Bitcoin saw its price climbing over the critical level of $28,500 on Monday for the first time in more than a month.

After rising 3.8% on Sunday, the price of the world's biggest cryptocurrency climbed to as high as $28,518 for a daily gain of almost 5%. This is the highest level since Aug. 17.

The current level is above Bitcoin's 200-day moving average of $28,500, while it may climb further if it manages to hold that level, according to analysts.

Ethereum, the world's biggest altcoin by market value, also rose more than 2.4% to as much as $1,742, after increasing 3.7% the previous day.

Some altcoins saw their prices soar over 10% in the past 24 hours, according to data from the digital asset price-tracking website, CoinMarketCap.

The total value of the crypto market was up 3% to $1.12 trillion as of 10.04 a.m. EDT, the highest since late August, data showed.