Bitcoin breaks records, reaches an all-time high of $69,000

Bitcoin, the digital currency, has surged to a new all-time high, surpassing its previous record set in 2021. It soared past $69,000 fueled by robust demand for US-listed exchange-traded funds (ETFs) and investor FOMO (fear of missing out). This rally precedes a significant event known as “halving,” anticipated to take place in April.

Initially reaching $69,202, Bitcoin later settled at $66,978.12 after the peak. In 2022, Bitcoin experienced a significant drop in value, plummeting below $16,000, leading some to dub it a “crypto winter.” The recent surge in Bitcoin’s value is attributed to the approval of US spot Bitcoin ETFs by the Securities and Exchange Commission (SEC) and excitement surrounding the upcoming halving event. Consequently, Bitcoin’s market capitalization has surged to $1.31 trillion, marking a 57.77% increase since the beginning of the year.

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