Reserve

Bitcoin

Spot

Rise

<p>How far will Bitcoin go? With unparalleled feats on the market in recent weeks, the asset continues to draw investors’ attention. The flagship cryptocurrency has just set a new all-time high.</p>
<h2 id="h-bitcoin-marks-a-new-record">Bitcoin Marks a New Record</h2>
<p>Bitcoin continues to defy expectations with remarkable performances in recent weeks. On an impressive streak, the queen of cryptocurrencies shows no sign of weakness. After breezing past its previous all-time high, Bitcoin reached $70,000 by the end of last week, leaving observers and investors astounded.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>The strong momentum of Bitcoin continues, as <a href="https://www.coindesk.com/business/2024/03/11/bitcoin-vaults-over-70k-hits-new-highs/?utm_medium=referral&amp;utm_source=rss&amp;utm_campaign=headlines" target="_blank" rel="noopener noreferrer nofollow">the leading crypto has recorded a new record</a> by surpassing $70,400. The asset is currently trading at over $71,438, up 2.84% over the past 24 hours, according to data from CoinMarketCap. Crypto enthusiasts are likely rubbing their hands with glee.</p>
<p>This continual rise of Bitcoin confirms its dominant position in the cryptocurrency market. Despite the inherent fluctuations of this market, Bitcoin demonstrates resilience and remarkable growth potential. The flagship crypto’s recent performances attest to the growing confidence and optimism of investors towards this digital currency.</p>
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <div class="entry-content-asset">
   <div class="social-embed-container">
    <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
     <p lang="en" dir="ltr">Welcome to the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> Price Discovery Era <a href="https://t.co/1gWQ8NeZuj" rel="noopener noreferrer nofollow">pic.twitter.com/1gWQ8NeZuj</a></p>— Jason A. Williams (@GoingParabolic) <a href="https://twitter.com/GoingParabolic/status/1767106974867484715?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 11, 2024</a>
    </blockquote>
    <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
   </div>
  </div>
 </div>
 <figcaption class="wp-element-caption"><em>Bitcoin surpasses $71,000 and continues its impressive race</em>
 </figcaption>
</figure>
<h2 id="h-factors-driving-bitcoin-s-rise">Factors Driving Bitcoin’s Rise</h2>
<p>The spectacular ascent of Bitcoin can be attributed to several key factors, one of the most significant being the influx of liquidity into Bitcoin Spot ETFs. Since their approval in the U.S., these financial instruments have attracted a considerable amount of investment, signaling increased interest and wider acceptance of the leading crypto as a legitimate investment asset.</p>
<p>This approval marked a milestone for cryptocurrency, offering institutional investors and individuals a means to get exposure to BTC. The excitement around Bitcoin Spot ETFs has helped to inject new life into the market, thus supporting price increases.</p>
<p>Meanwhile, the hope for a reduction in interest rates by the U.S. Federal Reserve also contributes to the current market dynamics. Lower interest rates could reduce the cost of borrowing and encourage investments in riskier assets like Bitcoin. This prospect, combined with the search for portfolio diversification and protection against inflation, is fueling the demand for the leading crypto.</p>
<p>Bitcoin once again demonstrates its supremacy in the world of cryptocurrencies by reaching this new all-time high. <a href="https://www.cointribune.com/en/bitcoin-at-69000-what-to-expect-in-the-coming-days/" target="_blank" rel="noopener noreferrer nofollow">The future of the flagship crypto</a> seems promising, with prospects for growth and wider adoption.</p>

Bitcoin surpasses the $71K mark and sets a new all-time high!

Table of Contents

Cointribune EN

Other articles published on Mar 11, 2024

ARK Invest CEO Cathie Wood Predicts Bitcoin to Surpass $1 Million Before 2030

Crypto Regulation Around The World And What It Means For The Crypto Industry

Bernstein Analysts Speak on Bitcoin Price Forecasts After Halving

GALA Price Prediction: GALA Rally Sets Sights on $0.10 Mark

Bitcoin Overtakes Silver: Soars to 8th Place in Global Asset Market Cap

Cryptocurrency Surge: Bitcoin Hits New Record High and XRP Coin Gains Momentum

Join our free newsletter for daily crypto updates!