Bitcoin Price in GBP Rebounds as Crypto Market Tops $2.28 Trillion — Why Altcoins Are Outperforming Today
The wider cryptocurrency market has climbed 2.6% in the past 24 hours to around $2.28 trillion, with Bitcoin strengthening and altcoins including Polkadot and the XRP Ledger ecosystem posting sharper gains. Here's today's Bitcoin price in GBP, what's driving the move, and how UK investors typically access this market.
Key takeaway
- The global cryptocurrency market rose 2.6% in 24 hours to around $2.28 trillion as of 18 August 2026, according to CoinGecko data cited by CoinGabbar.
- Bitcoin (BTC) traded at $64,269.40, up 1.8% in 24 hours — roughly £47,490 at Tuesday's GBP/USD rate of 1.3535 (Trading Economics). This conversion is a snapshot calculation, not a quoted GBP price — always check a live feed.
- Polkadot and the XRP Ledger ecosystem were among the largest 24-hour gainers, per CoinGabbar, while Bitcoin dominance stood at 56.5% and Ethereum dominance at 10.1%.
- The move follows a period of range-bound, weaker trading: Bitcoin was down more than 3% and Ethereum down 1.8% over the preceding week, according to Yahoo Finance, with analysts divided on whether the recent bear phase has bottomed.
- Cryptoassets are highly volatile and largely unregulated, with no consumer protection, and tax on profits may apply.
What Is the Bitcoin Price in GBP Today?
Bitcoin (BTC) traded at $64,269.40 as of the latest CoinGecko data cited by CoinGabbar on 18 August 2026, up 1.8% over the previous 24 hours, with a reported trading volume of $21.16 billion and a market capitalisation of around $1.29 trillion.
Converting at Tuesday's GBP/USD rate of 1.3535, as reported by Trading Economics, that puts Bitcoin at approximately £47,490. This is a calculated conversion for context, not a directly quoted sterling price — both the underlying Bitcoin price and the exchange rate move continuously, so always check a live, named source before acting on any figure.
Why Is the Wider Crypto Market Rising?
The total cryptocurrency market capitalisation reached approximately $2.28 trillion on 18 August 2026, up 2.6% in 24 hours, with total trading volume recorded at $50.33 billion, according to CoinGecko data cited by CoinGabbar. Bitcoin's dominance of the overall market stood at 56.5%, with Ethereum (ETH) at 10.1%.
Altcoins leading the move
Polkadot and the XRP Ledger ecosystem were named as the largest 24-hour gainers in the sector, per CoinGabbar. Altcoins — cryptoassets other than Bitcoin — can be more volatile than Bitcoin itself, and a strong short-term move is not a reliable guide to future performance.
Quick fact
Ethereum's staking ratio recently reached a record 34.4%, meaning more than 40 million ETH is locked in the network's proof-of-stake consensus mechanism, according to CoinMarketCap — a sign some analysts read as long-term holder confidence, though it does not guarantee future price performance.
Is This the End of the Recent Crypto Bear Phase?
Views are mixed. Bitcoin was down more than 3% and Ethereum down 1.8% over the week to 17 August 2026, according to Yahoo Finance, as investors weighed softer economic data — which could reduce the near-term risk of higher interest rates — against a bear phase that has persisted long enough to leave analysts divided on timing.
Analyst Adam Livingston has pointed to Bitcoin's recent low volatility as a potential breakout signal, per Yahoo Finance, while other analysts see scope for Bitcoin to fall further before bottoming out. Separately, CoinDesk reported that Bitcoin has tracked a broader bounce in equity markets even as a run of roughly $390 million in weekly Bitcoin ETF outflows continued, with implied volatility trading near a seasonal low.
Beyond near-term price fluctuations, market participants are divided over whether cooling macroeconomic data will supply the liquidity tailwind necessary to end the slump. While softer inflation and labor data have recently pushed traditional equities to record highs, digital assets have lagged behind, weighed down by persistent weekly spot Bitcoin ETF outflows and multi-year lows in trading velocity.
Analysts note that while compressed volatility and crucial technical support near the market's median realized price ($63,200) hint at late-stage bear market exhaustion, a sustained breakout will likely require a definitive reversal in institutional fund flows alongside a broader macroeconomic pivot toward looser financial conditions.
This is not a guarantee of future performance, and no single analyst view should be treated as market consensus. Past performance is not a reliable indicator of future results.
Explore crypto markets with IG
FCA-regulated access to major cryptoassets
How UK Investors Access Bitcoin and Other Cryptoassets
UK investors typically access crypto markets through a regulated cryptoasset trading account. This is general, informational content, not a recommendation to buy or sell any specific cryptoasset — what's appropriate depends on an individual's own circumstances and risk tolerance.
Newer entrants sometimes start by exploring a demo account to understand how a trading platform works before committing real funds, alongside using risk management tools such as stop-loss orders once trading live.
The Risks of Trading a Volatile Asset Class
Regulatory developments continue to shape the backdrop for crypto markets. The US Securities and Exchange Commission (SEC) unexpectedly postponed a vote on new crypto startup capital-raising rules, citing a scheduling issue, according to Investing News Network. Separately, Binance announced it will halt transaction processing for HTX and ten other cryptocurrency trading platforms from 23 August 2026, citing regulatory mandates and sanctions enforcement, per the same source.
Developments like these are a reminder that cryptocurrency markets can be affected by regulatory decisions with little notice, in addition to the price volatility itself. Cryptoassets are highly volatile and largely unregulated, with no consumer protection, and tax on profits may apply — tax treatment depends on individual circumstances and may be subject to change.
FAQ
What is the Bitcoin price in GBP today?
Bitcoin traded at approximately £47,490 on 18 August 2026, based on a US dollar price of $64,269.40 converted at a GBP/USD rate of 1.3535. Both figures move continuously — check a live price feed for the current rate.
Why is the crypto market up today?
The global cryptocurrency market rose 2.6% in 24 hours to around $2.28 trillion, with Bitcoin strengthening and altcoins such as Polkadot and the XRP Ledger ecosystem posting sharper gains, following a period of weaker, range-bound trading.
Has the crypto bear market ended?
Analysts are divided. Some point to Bitcoin's recent low volatility as a possible breakout signal, while others expect further declines before a bottom forms. This is not a guarantee of future performance.
Is investing in cryptocurrency safe?
Cryptoassets are highly volatile and largely unregulated, with no consumer protection if things go wrong. Tax on profits may apply, and tax treatment depends on individual circumstances.
Start exploring crypto markets
Open an FCA-regulated account with IG
Past performance is not a reliable indicator of future results.
Tax treatment depends on individual circumstances and may be subject to change. Seek independent advice.
Important to know
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Connect with us
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
Professional clients trading spread bets and CFDs can lose more than they deposit.
The value of shares, ETFs and other ETPs bought through a share dealing account, a stocks and shares ISA or a SIPP can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results. Some ETPs carry additional risks depending on how they’re structured, investors should ensure they familiarise themselves with the differences before investing.
Crypto - Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
Share dealing and IG Smart Portfolio accounts provided by IG Trading and Investments Ltd, CFD accounts are provided by IG Markets Ltd, spread betting provided by IG Index Ltd, cryptoassets services are provided by IG Digital Assets Ltd.
IG is a trading name of IG Trading and Investments Ltd (a company registered in England and Wales under number 11628764), IG Markets Ltd (a company registered in England and Wales under number 04008957) and IG Index Ltd (a company registered in England and Wales under number 01190902). Registered address at 88 Wood Street, London, EC2V 7QR. IG Markets Ltd (Register number 195355), IG Trading and Investments Ltd (Register Number 944492) and IG Index Ltd (Register number 114059) are authorised and regulated by the Financial Conduct Authority.
The information on this site isn’t directed at residents of the United States, Belgium or any particular country outside the UK and isn’t intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
