Bitcoin sets all-time high ahead of halving
On the evening of March 5, Bitcoin price officially reached a new peak of 69,170 USD, surpassing the previous record of 69,000 USD recorded on November 10, 2021.
This milestone brought Bitcoin's market capitalization to over $1.35 trillion, equivalent to the total market capitalization of silver.
Bitcoin prices have skyrocketed since the launch of Bitcoin Spot ETFs in the US in January, making Bitcoin Spot a viable investment option for a group of institutional investors who cannot directly hold the cryptocurrency this guy.
According to Coinglass, the price increase on March 5 caused $536 million to be liquidated in 24 hours, of which $286 million was in short-selling transactions. Currently, Bitcoin is correcting to 63,367 USD, down 7% in the past 24 hours.
Previously, Bitcoin usually only reached new highs after “halving” – an event that halved the block reward of Bitcoin mining to ensure the number of Bitcoins were issued at a stable rate, thereby controlling inflation rates. develop and increase value for the world's largest coin. However, the new ATH shows that Bitcoin is breaking this trend. The next halving event is expected to take place in April 2024.
Source : https://goonus.io/markets/BTC_VND/