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HomeNewsBitcoin Breaks $69K Barrier, Nearing Silver's $1.38T Market Cap Milestone

Bitcoin Breaks $69K Barrier, Nearing Silver’s $1.38T Market Cap Milestone

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  • Bitcoin hit a two-year high surpassing $68,600, approaching the all-time high of $69,000.99 in November 2021, driven by investment flows into U.S. Bitcoin exchange-traded funds, reflecting a 50% increase this year.
  • The approval of U.S. Bitcoin exchange-traded funds has attracted major new investors, reviving market enthusiasm and momentum, with $2.17 billion entering the top 10 funds in the week to March 1.

Bitcoin recently crossed the $68,000 threshold, edging closer to its November 2021 high near $69,000. Moreover, as ETHNews has earlier indicated, it’s now contending with the silver market, with its market capitalization nearing $1.4 trillion.

But wait, there’s more: Ether is not far behind and has reached its highest price since January 2022, surpassing $3,600. Impressive, right? But what’s driving this phenomenon?

BlackRock is no stranger to the news these days

Its Bitcoin ETF has reportedly experienced astronomical trading volume, surpassing $2 billion before the market closed. Such a move not only demonstrates the growing institutional acceptance and demand for cryptocurrencies, but also signals an insatiable interest from investors. Could this be the beginning of a new era for crypto investments?

In addition, according to reports from ETHNews, last week, Bitcoin-focused products experienced “substantial inflows” of $1.73 billion, marking their second highest performance to date. ETH-focused funds followed closely, with $85 million in net inflows.

The forecasts could not be more encouraging

Now, with the wind at its back, some experts suggest that seeing Bitcoin breaking the $80,000 barrier is not just a dream. Incredible, right? But here comes the million-dollar question: is this sustainable? Following reports from ETHNews, the outlook for cryptocurrencies has never been more promising.

 

The current price of Bitcoin (BTC) is approximately 69,000 USD

BTC_1M_graph_coinmarketcap
Source: COinmarketCap

Bitcoin’s current market capitalization is approximately 1.32 trillion USD, with a 24-hour trading volume of around 77.33 billion USD.

Disclaimer: ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: info@ethnews.com Phone: +49 160 92211628
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