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Bitcoin prices surpassed the $71,000 threshold, achieving a new all-time high (ATH). In the last 24 hours, its value increased by 2.8%. Analysts anticipate further appreciation of the asset.
As per CoinGecko data, on March 11, the price of BTC climbed above $71,500, establishing a new ATH for Bitcoin at $71,787. CoinMarketCap indicates that the historical peak was noted at $71,830. At 13:30 (GMT+2), the BTC price stands at $71,766.
In the last 24 hours, BTC prices increased by 2.8%, prompting a similar response from altcoins. Nearly all assets within the top 20 experienced gains during this period. ETH rose by 2.2%, reaching $4,000, while SOL gained 2.3% over the day, reaching $149. The most significant growth was observed in meme coins DOGE and SHIB, which appreciated by 3.6% and 4.5%, respectively, in the past 24 hours.
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Analysts attribute the rise of Bitcoin and the broader crypto market to the forthcoming halving and the increasing interest from investors in spot Bitcoin ETFs. Most experts concur that BTC prices will continue to experience fluctuations, with intervals of sharp increases and decreases. Some analysts predict that the asset could approach the $200,000 mark prior to the halving in April. The halving may prompt investors to sell BTC actively, potentially resulting in a decline in BTC prices to $52,000.
Concerns among some experts revolve around a potential BTC shortage following the halving, given the asset’s popularity among investors. Matt Hougan, CIO of Bitwise, mentioned that the company is engaging with various individual retail investors, family offices, hedge funds, and venture capital funds interested in investing in spot Bitcoin ETFs. Meanwhile, ETF issuers are actively redeeming BTC in light of the rising popularity of their assets. For instance, BlackRock currently holds 197,943 BTC, Grayscale possesses 399,742 BTC, and Fidelity has 126,082 BTC.
The forthcoming Federal Reserve meeting, where U.S. officials may announce a reduction in the key interest rate, is influencing Bitcoin prices. The latest unemployment report in the U.S. indicated an increase to a two-year high of 3.9%.
In the past week, Bitcoin prices have been on the rise, gaining nearly 10% in value. On March 5, the BTC price nearly reached the ATH but fell short by 1%. Subsequently, on March 6, it surpassed the $69,000 mark before experiencing a sharp decline for several hours.
Сообщение BTC Reaches New ATH появились сначала на CoinsPaid Media.
