Bitcoin ETF

Bitcoin

Time

<a href="https://bitcoinworld.co.in/bitcoin-reached-new-all-time-high-surpasses-its-previous-all-time-high-of-69000/" title="Bitcoin Reached New All-time High, Surpasses Its Previous All Time High Of $69,000" rel="noopener noreferrer nofollow"></a>
<ul>
 <li style="font-weight: 400">Bitcoin has attained a new all-time high, having surpassed its previous all time high of $69,000 before slowing down.</li>
</ul>
In a momentous surge, Bitcoin has officially smashed through its previous all-time high, surpassing the $69,000 mark.&nbsp;
This milestone comes as Bitcoin continues its remarkable ascent after spot Bitcoin Exchange Traded Funds (ETFs) were approved by the US Securities and Exchange Commission, leading to a consistent large influx of capital into BTC.
The Bitcoin market witnessed a flurry of activity as BTC surged to its new peak as BlackRock’s spot Bitcoin ETF did over $1 billion in trading volume for the sixth consecutive day yesterday.
See Also: <a class="row-title" href="https://bitcoinworld.co.in/bitdeer-announces-new-4nm-bitcoin-mining-chip-seal01/" aria-label="“Bitdeer Announces New 4nm Bitcoin Mining Chip SEAL01” (Edit)" rel="noopener noreferrer nofollow">Bitdeer Announces New 4nm Bitcoin Mining Chip SEAL01</a>
Bitcoin’s previous all time high of $69,010 happened almost three years ago on November 10, 2021, 846 days ago.&nbsp;
For the month of February, Bitcoin had the biggest green monthly candle in its history, rising almost $20,000 that month alone.&nbsp;
To put into context how bullish that month was price wise, the bear market bottom for bitcoin was ~$16,000, meaning bitcoin pumped almost $4,000 more than that alone in February.
Bitcoin’s meteoric rise has been fueled by a variety of factors, including increasing institutional adoption, growing interest from retail investors, and broader acceptance by traditional financial institutions.&nbsp;
Additionally, ongoing geopolitical tensions and inflationary concerns have propelled demand for Bitcoin as a hedge against economic uncertainty.
US spot Bitcoin ETFs had their second biggest day in terms of trading volume yesterday, <a href="https://twitter.com/EricBalchunas/status/1764730139512848543" rel="noopener noreferrer nofollow">according</a> to Eric Balchunas.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 The ten bitcoin ETFs a virtual lock to clock their second biggest volume day today. So looks like the big bump up in trading activity last week was more new normal than anomaly. <a href="https://t.co/dOfIQ7hhS2" rel="noopener noreferrer nofollow">pic.twitter.com/dOfIQ7hhS2</a>
 — Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1764730139512848543?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 4, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
BlackRock’s ETF was responsible for $2.4 billion of the $5.5 billion traded yesterday. Last week, spot Bitcoin ETFs bought over 30,029 BTC, while miners only mined 6,160 new BTC.&nbsp;
This massive demand and very limited supply of bitcoin being created every day has been the main driver causing bitcoin’s price to increase dramatically.
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote>
&nbsp;
#Binance #WRITE2EARN
The post <a href="https://bitcoinworld.co.in/bitcoin-reached-new-all-time-high-surpasses-its-previous-all-time-high-of-69000/" rel="noopener noreferrer nofollow">Bitcoin Reached New All-time High, Surpasses Its Previous All Time High Of $69,000</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

Bitcoin Reached New All-time High, Surpasses Its Previous All Time High Of $69,000

ItsBitcoinWorld

Other articles published on Mar 6, 2024

Top Crypto Gainers Today Mar 06 – Terra Classic, Akash Network, Optimism, Arweave

5 Emerging AI Crypto Poised For Success In The Next Bull Market

Crypto Whales Continue Accumulation as Meme Coin Doubles in 12 Hours

Snek (SNEK) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Machine learning algorithm predicts Dogecoin price on March 31, 2024

AI: Google is changing its algorithm to combat spam and plagiarism

Join our free newsletter for daily crypto updates!