Bitcoin Price Breaks All-Time High Surpassing April’s $64.8K Peak


Bitcoin has broken its former all-time high and is now officially looking at price discovery. This comes on the back of serious developments in the industry – just today, the first-ever SEC-approved futures-backed Bitcoin ETF started trading.

  • The previous all-time high of Bitcoin’s price was set on April 14th, 2021 and it was at $64,895 trading on Bitstamp exchange – exactly 6 months and 6 days ago. As of writing these lines and shortly after breaking the ATH level, Bitcoin quickly reached a record high of $66,415.
BTC/USD, Bitstamp. Chart by TradingView
  • It’s worth noting that Bitcoin is up over 100% in the past couple of months alone – since the drop in July that took the price below $30,000 briefly,
  • With this said, the current rally looks to be more sustained than the one that led up to the previous all-time high for a number of reasons.
  • Right off the bat, long-term holders, as well as miners have been in steady accumulation mode and have shown little to no serious intentions of selling, as per on-chain analysis.
  • Another very important consideration is the BITO ETF – the first-ever futures-backed Bitcoin ETF approved by the US Securities and Exchange Commission (SEC).
  • As CryptoPotato reported earlier, the ETF by ProShares opened particularly well and saw shares worth almost $1 billion traded in its first day on NYSE.


Sponsored Links

Mid Post Ads

Source link

Leave a Reply

Your email address will not be published.

GIPHY App Key not set. Please check settings

What do you think?

Bitcoin Price Hits All-Time-High! What Traders Can Expect Next? PullBack or Rise Ahead – Coinpedia – Fintech & Cryptocurreny News Media

SEC Requests Court To Extend Discovery Phase of Lawsuit With Ripple for Two Months

SEC Requests Court To Extend Discovery Phase of Lawsuit With Ripple for Two Months