The most popular cryptocurrency, bitcoin (BTC) has started discovering its new all-time highs (ATHs), moving above USD 63,000 for the first time in its history and liquidating almost USD 200m in short trading positions in one hour. The native token of the largest smart contract platform, Ethereum (ETH), reached its new ATH also.
At 16:52 UTC, BTC is trading at around USD 63,194, correcting lower from USD 63,579, reached earlier today. The price is up by 5% in a day and 7.5% in a week. It increased by 3% in a month and 813% in a year.
BTC hit its previous ATH on March 13, reaching USD 61,712 (per Coingecko), and it surpassed this level one day before a direct listing by the largest US crypto exchange, Coinbase.
“The run in the price of Bitcoin is remarkably being fueled by two core fundamental events which include the upcoming public listing of Coinbase cryptocurrency exchange, as well as the growing list of firms pressing on the SEC for an ETF product,” Nick Spanos, Co-founder of Zap.org, a platform for tokenizing services and curating service providers with a focus on oracle services, told Our.
We are seeing huge demand for bitcoin internally from clients. This is the beginning of institutional investors in… https://t.co/tSSKnNTysk
— Ross Gerber (@GerberKawasaki)
#Coinbase IPO May Boost #Bitcoin to $70,000, Like #Tesla to $60,000 – The lowest 30-day volatility since October i… https://t.co/d57npHJGwj
— Mike McGlone (@mikemcglone11)
“They tried to ignore it to make it go away. Jamie Dimon will tell you that,” says @GOPLeader on #bitcoin. “This is… https://t.co/wMSLjqPGFd
— Squawk Box (@SquawkCNBC)
-20% to -30% on lots of coins $BTC pairings within the next couple of days is likely.
— ant (@ThisIsNuse)
coinbase reprices higher as bitcoin increases in value
— juthica (@juthica)
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Learn more:
– Traders Issue Warnings as Altcoins are Booming and Bitcoin Consolidates
– Unlike Bitcoin, Ethereum’s ATH Was Driven by Relatively Small Demand – Analyst
– Bitcoin Is More ‘Public’ Money than Central Bank-Issued Fiat Currencies
– With Banks Turning to Bitcoin, Is It Finally Time to Long the Bankers?
– Coinbase Listing Won’t Help Bitcoin Price – Analyst
– Bitcoin Faces Hedge Test Amid Rising Inflation Concerns
– Bitcoin Market Changed ‘Radically’ & Volatility Decline Attracts Institutions
– Bitcoin to Be Worth Millions by 2023, ETH Above USD 2K by 2022 – Kraken CEO
– Institutions & Retail Compete For Bitcoin – Whose Hands Are Stronger?
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(Updated at 08:42 UTC with additional comments, details. Updated at 09:27 UTC: updates throughout the entire text. Updated at 10:47 UTC with the latest market data. Updated at 16:58 UTC with the latest market data and reactions.)