Bitcoin has reached a new all-time high for the first time in more than two years, as this year’s rally — fueled by excitement over bitcoin ETFs and the upcoming halving event — accelerated.
The price of the cryptocy topped $69,210 on March 5th, before retreating, according to Coin Metrics. It was last trading lower by 4% at $64,665.68. The flagship crypto notched it previous record of $68,982.20 on Nov. 10, 2021 — about a year before the catastrophic failure of FTX plagued the crypto industry in what some call crypto’s Lehman Brothers moment.
A continuing massive wave of buying by the newish U.S.-based spot bitcoin ETFs is the likely catalyst behind what’s now a historic run higher. The price of bitcoin sat at around $45,000 at the time the ETFs opened for business on Jan. 11. Following a brief “sell the news” dip to the $39,000 area, bitcoin quickly rallied above $50,000 by mid-February. After meandering around the $51,000 level for a couple of weeks, prices took off again to the upside towards the end of the month.
Nasdaq is deepening its push into tokenized markets with a $100 million investment in Payward,…
MoneyGram is pushing stablecoins beyond crypto trading and remittances with a new payment card designed…
Hunter Biden’s newly launched LAPTOP memecoin delivered exactly the kind of chaos critics warned about…
Jack Dorsey's Block is making another major move into regulated finance, applying to create a…
Some of the world's biggest AI platforms experienced overlapping service disruptions on Thursday, September 3,…
Official U.S. economic data is moving directly onto public blockchains. The U.S. Department of Commerce…