2024

Bitcoin

<div class="coinjournal">
 <ul>
 <li>Bitcoin breaks $57,000 as BlackRock’s IBIT hits record with $1.3 billion</li>
 <li>BTC could reach or break past its all-time high before the halving</li>
 </ul>
 Bitcoin’s pre-halving rally has seen the bellwether crypto <a rel="noopener noreferrer nofollow" title="reach" href="https://thebittimes.com/tag/reach.html">reach</a> $57,000, pushing to within just 20% of its all<a rel="noopener noreferrer nofollow" title="-time" href="https://thebittimes.com/tag/time.html">-time</a> high of $69,000 in 2021.
 After <a rel="noopener noreferrer nofollow" title="break" href="https://thebittimes.com/tag/break.html">break</a>ing past the $54,000 level, Bitcoin price extended its gains to above $57k late Monday. On Coinbase, <a rel="noopener noreferrer nofollow" title="BTC" href="https://thebittimes.com/tag/btc.html">BTC</a> rose to $57,250, with total short liquidations <a rel="noopener noreferrer nofollow" title="reach" href="https://thebittimes.com/tag/reach.html">reach</a>ing $271 million. Bitcoin accounted for $189 million of the liquidated shorts.
 Ethereum’s surge to highs of $3,280 also saw over $67.8 million shorts liquidated.
 However, altcoins were largely spectators to Bitcoin’s bullish show. Market intelligence platform Santiment shared this on X Tuesday morning.
 <blockquote>
 “#Bitcoin has now scratched its way to a market value as high as $57,250, reaching within 19.9% of the $68.6K high established 27 months ago. Now at a pivotal moment, traders’ interest in $BTC is exceedingly high as #altcoins have temporarily taken a back seat.”
 </blockquote>
 <h2 id="blackrock-s-ibit-trades-1-billion-worth-of-shares">BlackRock’s IBIT trades $1 billion worth of shares</h2>
 Bitcoin’s rally coincided with a stellar performance by spot Bitcoin ETFs, with BlackRock’s iShares Bitcoin Trust ($IBIT) outpacing the rest. According to Bloomberg ETF analyst Eric Balchunas, $IBIT accounted for $1.3 billion of the total $2.4 billion volume recorded on Monday.
 <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
 It's official..the New Nine Bitcoin ETFs have broken all time volume record today with $2.4b, just barely beating Day One but about double their recent daily average. $IBIT went wild accounting for $1.3b of it, breaking its record by about 30%. pic.twitter.com/MiCs1rzttM
 — Eric Balchunas (@EricBalchunas) February 26, 2024
 </blockquote>
 
 The upside momentum also followed news that MicroStrategy had purchased 3,000 BTC, bringing its total to 193,000 BTC acquired for a total $6.09 billion. The company’s latest BTC purchase was for $155 million.
 Bitcoin was trading around $56,430 early morning on Tuesday.
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-breaks-57-000-to-reach-within-20-of-all-time-high-tbt80887.html">https://thebittimes.com/bitcoin-breaks-57-000-to-reach-within-20-of-all-time-high-tbt80887.html</a>

Bitcoin breaks $57,000 to reach within 20% of all-time-high

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TheBitTimes

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