Share this article
The world’s largest cryptocurrency by market dominance surpassed new all-time highs today. The update comes the day after the first U.S. Bitcoin futures ETF went live on the New York Stock Exchange.
Bitcoin Hits New Highs
Bitcoin, the world’s most popular cryptocurrency, just broke all-time high. It briefly crossed $66,000 on multiple exchanges this afternoon.
At the time of writing, Bitcoin was trading at $66,023.
The rise follows ProShares’ Tuesday launch of its Bitcoin futures ETF on the New York Stock Exchange. The ETF, which won approval from the U.S. Securities and Exchange Commission only last Friday, surpassed $500 million in trading volume within its first two hours of operation.
Bitcoin’s previous all-time high price was $64,863, which it reached on April 14, 2021. It suffered an intense correction over late spring and early summer, briefly dipping below $30,000 in late July. However, the flagship cryptocurrency enjoyed steady gains throughout August before receding slightly in September and then resuming its upward momentum in October. It’s rallied in recent weeks, up 48% this month.
Bitcoin has come close to breaking its previous high on several occasions over the last few days amid increased fervor in the market. Ethereum, the second-largest cryptocurrency, has also shown strength in the same period.
At current prices, Bitcoin’s market cap is now about $1.2 trillion. It holds roughly 47% dominance over the market.
Disclaimer: At the time of writing, the author of this piece owned BTC, ETH, and several other cryptocurrencies.
Share this article
$1.3 Billion Bitcoin Leaves Exchanges as Holders Prepare for Bull Run
In 2020, nearly 500,000 Bitcoin have left crypto exchanges, suggesting a rise in custody over profit-booking. This same dynamic was not evident during the 2017 and 2019 tops. A Volatile…
7 Reasons The $10k Bitcoin Bull Run Will Be Unstoppable
A Bitcoin bull run seems almost inevitable after the currency’s value smashed through the $10k barrier today, breaking out of the sluggish bear run that has occupied the greater part…
Bitcoin Breaks $19,000, All-Time Highs Appear Imminent
Bitcoin briefly surpassed $19,000 this morning. This is the first time the first-ranked cryptocurrency has hit the price level since December 2017, when its value almost doubled from $10,000 in…
What is a Crypto Airdrop: Why Projects Airdrop Crypto
Crypto airdrops occur when new tokens are freely distributed to different wallets in order to drive initial growth and build a community. They represent a popular marketing tactic that new projects use to spread…