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<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>
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 <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>
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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.
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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.
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 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.
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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

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