Bitcoin marked a historic milestone after its price
surpassed $69,200 today (Tuesday), according to Coinbase’s data. This surge followed
a broader trend of heightened interest and investment in Bitcoin, driven
notably by the introduction of Bitcoin exchange-traded funds (ETFs) in the
United States.
Bitcoin’s ascent to new heights is mostly due to the
influx of investment from the latest wave of spot Bitcoin exchange-traded funds
(ETFs) in the United States, Cointelegraph reported. These ETFs have emerged as
a pivotal driver of the cryptocurrency’s price appreciation.
Source: Coinbase
Despite its unprecedented surge to new all-time
highs, Bitcoin remains susceptible to significant volatility, particularly in
light of the upcoming halving event. According to CoinMarketCap, the price of Bitcoin has
jumped 18% in the past week and 1% in the past 24 hours to trade at $67,242 at
the time of this publication.
Source: CoinMarketCap
The impending halving, a key feature of Bitcoin’s
protocol that reduces block rewards by half approximately every four years,
poses a challenge and uncertainties for investors navigating the cryptocurrency
landscape.
As Bitcoin’s price surges past its all-time high, institutional investors are seizing the opportunity to dive into the cryptocurrency market through ETFs, Finance Magnates reported. Last week, BlackRock’s Bitcoin ETF experienced a record-breaking inflow of $520 million, underlining the escalating frenzy surrounding Bitcoin.
Bitcoin marked a historic milestone after its price
surpassed $69,200 today (Tuesday), according to Coinbase’s data. This surge followed
a broader trend of heightened interest and investment in Bitcoin, driven
notably by the introduction of Bitcoin exchange-traded funds (ETFs) in the
United States.
Bitcoin’s ascent to new heights is mostly due to the
influx of investment from the latest wave of spot Bitcoin exchange-traded funds
(ETFs) in the United States, Cointelegraph reported. These ETFs have emerged as
a pivotal driver of the cryptocurrency’s price appreciation.
Source: Coinbase
Despite its unprecedented surge to new all-time
highs, Bitcoin remains susceptible to significant volatility, particularly in
light of the upcoming halving event. According to CoinMarketCap, the price of Bitcoin has
jumped 18% in the past week and 1% in the past 24 hours to trade at $67,242 at
the time of this publication.
Source: CoinMarketCap
The impending halving, a key feature of Bitcoin’s
protocol that reduces…
