{"id":596284,"date":"2024-03-05T05:28:43","date_gmt":"2024-03-05T05:28:43","guid":{"rendered":"https:\/\/wncen.com\/?p=596284"},"modified":"2024-03-05T13:10:32","modified_gmt":"2024-03-05T13:10:32","slug":"bitcoin-on-the-brink-price-soars-above-68000-will-btc-break-its-2021-record","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-on-the-brink-price-soars-above-68000-will-btc-break-its-2021-record\/","title":{"rendered":"Bitcoin On The Brink, Price Soars Above $68,000 – Will BTC Break Its 2021 Record?"},"content":{"rendered":"

On Monday, a flood of capital brought Bitcoin within striking distance of record values, sending it soaring to a two-year high and breaching past $68,000.<\/a> At its peak, the price was $68,800.<\/p>\n

At the time of writing, Bitcoin was trading at $67,980,<\/a> up 6.6% and 20.6% in the daily and weekly timeframes, data from Coingecko shows.<\/p>\n

Related Reading: FLOKI Grows Over 300% As Memecoin Breaches $400 Million TVL \u2013 Details<\/a><\/div>\n

In recent weeks, as investment in bitcoin funds listed in the United States has increased dramatically, the value of the biggest cryptocurrency by market cap has increased by half this year.<\/p>\n

Bitcoin Heating Up<\/strong><\/h2>\n

As more and more people get interested in and optimistic about the market, Bitcoin’s incredible upward trajectory becomes clear in a thorough examination of the weekly chart.<\/p>\n

The bitcoin price has recently surged, helped along in part by the adoption of spot Bitcoin ETFs,<\/a> and is already approaching the all-time high of $69K, which the cryptocurrency attained in November 2021. It has already surpassed numerous important resistance levels.<\/p>\n

\"\"Bitcoin 24-hour price ascent. Source: Coingecko<\/a><\/pre>\n
Antoni Trenchev, co-founder of crypto exchange Nexo, stated that after the launch of these nine new ETFs, major market movements no longer occur on weekends but rather during the regular trading week.<\/p>\n
Trenchev also pointed out that\u00a0today’s events could be a repeat of last week’s, when bitcoin’s value increased by $10,000 in a matter of days.<\/p>\n
The price of bitcoin has soared this year, and its market capitalization has already topped $1.3 trillion, making it one of the biggest assets in the world.<\/p>\n
<\/p>\n
BTCUSD trading at $66,887 on the 24-hour chart: TradingView.com<\/a><\/pre>\n
The most valuable cryptocurrency in the world, Bitcoin, has surpassed Meta Platforms (META), the parent company of Facebook, and is currently approaching silver’s market value of $1.4 trillion, according to figures provided by CompaniesMarketCap.<\/p>\n
More than half of the $2.17 billion net flows into the top ten US spot bitcoin funds in the week leading up to March 1 went into BlackRock’s iShares Bitcoin Trust (IBIT.O), opens new tab, according to statistics from LSEG.<\/p>\n
Ethereum, a smaller competitor, has capitalised on rumors that it, too, could soon offer exchange-traded funds that stimulate inflows. It is up 50% year-to-date and reached two-year highs on Tuesday, rising 2.5% to $3,517.<\/p>\n
Bitcoin Leads The Way<\/strong><\/h2>\n
Simultaneously, Bitcoin boosted many cryptocurrency tokens, particularly meme currencies. Dogecoin saw a 30% increase, and Shiba Inu had a 90% surge. People who have been sitting on their hands during the current crypto rise are finally getting back into it, according to analysts. According to crypto data source Kaiko, the weekly transaction volume of meme tokens climbed to its highest level since late 2021 last week.<\/p>\n
\n
#Bitcoin<\/a> is about to enter price discovery (again) and people are somehow bearish?<\/p>\n
couldn’t be me.<\/p>\n
\u2014 Caleb Franzen (@CalebFranzen) March 4, 2024<\/a><\/p><\/blockquote>\n
Meanwhile, Cubic Analytics CEO Caleb Franzen made the observation in a Sunday report that Bitcoin is beating the tech-heavy Nasdaq 100 Index (NDX). Breaking over a critical level connecting the first quarter and end quarter of 2021 highs, he characterized bitcoin’s breakout versus NDX as “very encouraging.”<\/p>\n
Related Reading: Solana Meme Coin Dogwifhat (WIF) Hits New ATH, Market Cap Breaks $1.6 Billion<\/a><\/div>\n
“Bitcoin is about to enter price discovery (again) and people are somehow bearish? Couldn’t be me,” he said in an X post Monday.<\/p>\n
Joel Kruger, a market strategist at digital currency exchange LMAX Group, told CBS MoneyWatch that investors are seeing the benefits of treating bitcoin as an uncorrelated asset, which makes it very appealing for portfolio diversification.<\/p>\n
Featured image from P2E Crypto Media, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
On Monday, a flood of capital brought Bitcoin within striking distance of record values, sending it soaring to a two-year high and breaching past $68,000. At its peak, the price was $68,800. At the time of writing, Bitcoin was trading at $67,980, up 6.6% and 20.6% in the daily and weekly timeframes, data from Coingecko shows. Related Reading: FLOKI Grows Over 300% As Memecoin Breaches $400 Million TVL \u2013 Details In recent weeks, as investment in bitcoin funds listed in the United States has increased dramatically, the value of the biggest cryptocurrency by market cap has increased by half this year. Bitcoin Heating Up As more and more people get interested in and optimistic about the market, Bitcoin’s incredible upward trajectory becomes clear in a thorough examination of the weekly chart. The bitcoin price has recently surged, helped along in part by the adoption of spot Bitcoin ETFs, and is already approaching the all-time high of $69K, which the cryptocurrency attained in November 2021. It has already surpassed numerous important resistance levels. Bitcoin 24-hour price ascent. Source: Coingecko Antoni Trenchev, co-founder of crypto exchange Nexo, stated that after the launch of these nine new ETFs, major market movements no longer occur on weekends but rather during the regular trading week. Trenchev also pointed out that\u00a0today’s events could be a repeat of last week’s, when bitcoin’s value increased by $10,000 in a matter of days. The price of bitcoin has soared this year, and its market capitalization has already topped $1.3 trillion, making it one of the biggest assets in the world. BTCUSD trading at $66,887 on the 24-hour chart: TradingView.com The most valuable cryptocurrency in the world, Bitcoin, has surpassed Meta Platforms (META), the parent company of Facebook, and is currently approaching silver’s market value of $1.4 trillion, according to figures provided by CompaniesMarketCap. More than half of the $2.17 billion net flows into the top ten US spot bitcoin funds in the week leading up to March 1 went into BlackRock’s iShares Bitcoin Trust (IBIT.O), opens new tab, according to statistics from LSEG. Ethereum, a smaller competitor, has capitalised on rumors that it, too, could soon offer exchange-traded funds that stimulate inflows. It is up 50% year-to-date and reached two-year highs on Tuesday, rising 2.5% to $3,517. Bitcoin Leads The Way Simultaneously, Bitcoin boosted many cryptocurrency tokens, particularly meme currencies. Dogecoin saw a 30% increase, and Shiba Inu had a 90% surge. People who have been sitting on their hands during the current crypto rise are finally getting back into it, according to analysts. According to crypto data source Kaiko, the weekly transaction volume of meme tokens climbed to its highest level since late 2021 last week. #Bitcoin is about to enter price discovery (again) and people are somehow bearish? couldn’t be me. \u2014 Caleb Franzen (@CalebFranzen) March 4, 2024 Meanwhile, Cubic Analytics CEO Caleb Franzen made the observation in a Sunday report that Bitcoin is beating the tech-heavy Nasdaq 100 Index (NDX). Breaking over a critical level connecting the first quarter and end quarter of 2021 highs, he characterized bitcoin’s breakout versus NDX as “very encouraging.” Related Reading: Solana Meme Coin Dogwifhat (WIF) Hits New ATH, Market Cap Breaks $1.6 Billion “Bitcoin is about to enter price discovery (again) and people are somehow bearish? Couldn’t be me,” he said in an X post Monday. Joel Kruger, a market strategist at digital currency exchange LMAX Group, told CBS MoneyWatch that investors are seeing the benefits of treating bitcoin as an uncorrelated asset, which makes it very appealing for portfolio diversification. Featured image from P2E Crypto Media, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":596170,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,1119,6664,1741,1944],"class_list":["post-596284","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-btc","tag-crypto","tag-digital-currencies","tag-etf"],"acf":[],"yoast_head":"\nBitcoin On The Brink, Price Soars Above $68,000<\/title>\n<meta name=\"description\" content=\"On Monday, a flood of capital brought Bitcoin within striking distance of record values, sending it soaring to a two-year high and breaching past $68,000.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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Encila","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g","caption":"Christian Encila"},"description":"They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin On The Brink, Price Soars Above $68,000 – Will BTC Break Its 2021 Record?","url":"http:\/\/wncen.com\/news\/bitcoin-on-the-brink-price-soars-above-68000-will-btc-break-its-2021-record\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-on-the-brink-price-soars-above-68000-will-btc-break-its-2021-record\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Bitcoin.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Bitcoin.jpeg?fit=548%2C308"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","crypto","digital currencies","etf"],"dateCreated":"2024-03-05T05:28:43Z","datePublished":"2024-03-05T05:28:43Z","dateModified":"2024-03-05T13:10:32Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin On The Brink, Price Soars Above $68,000 – Will BTC Break Its 2021 Record?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-on-the-brink-price-soars-above-68000-will-btc-break-its-2021-record\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-on-the-brink-price-soars-above-68000-will-btc-break-its-2021-record\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/Bitcoin.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/Bitcoin.jpeg?fit=548%2C308\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"crypto\",\"digital currencies\",\"etf\"],\"dateCreated\":\"2024-03-05T05:28:43Z\",\"datePublished\":\"2024-03-05T05:28:43Z\",\"dateModified\":\"2024-03-05T13:10:32Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Bitcoin.jpeg?fit=548%2C308","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/596284"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=596284"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/596284\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/596170"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=596284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=596284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=596284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}