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Bitcoin ETF

Bitcoin

Terra

Bitcoin’s value touched $69,045 after surpassing its previous peak of $69,000, hitting a new all-time high. 
The upward price trajectory marks an excellent recovery after a 28-month bear market slump, where it <a href="https://crypto.news/bitcoin-btc-and-ethereum-eth-market-update-december-22-2022/" data-type="link" data-id="https://crypto.news/bitcoin-btc-and-ethereum-eth-market-update-december-22-2022/">dropped</a> by 77%. It took 846 days for the cryptocurrency to rebound from its low point, showcasing a 346% increase in value since its dip to just over $15,000 in late 2022. In 2024, Bitcoin (<a href="https://crypto.news/price/bitcoin/" data-type="link" data-id="https://crypto.news/price/bitcoin/">BTC</a>) has seen a price surge of approximately 70%. 
After hitting this all-time high, Bitcoin quickly dipped below $67,000 and as of 10:50 a.m. EST, is currently trading at $67,300. 
<figure class="wp-block-image size-full is-resized">
 <img loading="lazy" decoding="async" width="1746" height="797" src="https://crypto.news/app/uploads/2024/03/BTCUSDT_2024-03-05_10-49-10.png" alt="Bitcoin breaks $69k, hits new all-time high - 25" class="wp-image-14255708" style="width: 100%;height:auto">
 <figcaption class="wp-element-caption">
 1-minute chart of Bitcoin from CoinMarketCap
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</figure> 
The <a href="https://crypto.news/market-cap/" data-type="link" data-id="https://crypto.news/market-cap/">cryptocurrency market</a> has faced challenges since BTC’s previous all-time high due to the collapse of <a href="https://crypto.news/what-happened-to-terra-luna-journey-from-crypto-kings-to-fallen-stars/" data-type="link" data-id="https://crypto.news/what-happened-to-terra-luna-journey-from-crypto-kings-to-fallen-stars/">Terra Luna</a>‘s ecosystem and the bankruptcy of <a href="https://crypto.news/ftx-files-for-chapter-11-bankruptcy-taking-down-about-130-companies-with-it/" data-type="link" data-id="https://crypto.news/ftx-files-for-chapter-11-bankruptcy-taking-down-about-130-companies-with-it/">FTX</a>, among other events that significantly impacted the sector. 
The Jan. 11 approval of spot <a href="https://crypto.news/bitcoin-etf-approval-crypto-volume-spiked-market-cap-rose/" data-type="link" data-id="https://crypto.news/bitcoin-etf-approval-crypto-volume-spiked-market-cap-rose/">Bitcoin ETFs</a> in the United States is believed to have initiated the recent bull market, with the inflows exceeding expectations. 
 Read more: <a href="https://crypto.news/bitcoin-etf-approvals-spark-mass-btc-adoption-experts-say/"> Bitcoin ETF approvals spark mass BTC adoption, experts say </a>

Bitcoin breaks $69k, hits new all-time high

crypto.news

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