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Cryptocurrency markets are now starting to talk about new records. Bitcoin broke the record on Tuesday, reaching $69,000. As I write this article, the price of Bitcoin has surpassed $69,000.
Bitcoin Refreshes Its Peak
2024 has been the year of new records for Bitcoin and the cryptocurrency world. Prior to the halving, Bitcoin’s price has reached a new record. Bitcoin has surpassed its previous record of $69,000. BTC reached $69,384 at the time of writing this article.
The development has also positively impacted Ethereum and other cryptocurrencies. Ethereum is trading close to $4,000 as I write this.
Is It the Spot Bitcoin ETF Wave?
Since the approval of Spot Bitcoin ETFs on January 10th, Bitcoin has been on a rising trend. After reaching $69,000 last Tuesday, BTC quickly pulled back to the $59,000 level but recovered very swiftly. We are at a point where moves by institutional investors into the cryptocurrency space are particularly noteworthy.
The enthusiasm within the community, along with increasing institutional entries into Bitcoin and cryptocurrencies, is now reflecting very positively on Bitcoin. We are clearly seeing this reflection with new records.
