Bitcoin Hits All-Time High of $69,045 in 2024

Bitcoin recently reached a new all-time high of $69,045, surpassing its previous peak of $69,000. This milestone comes after a 28-month bear market slump that saw the cryptocurrency’s value drop by 77%. However, Bitcoin has shown an impressive recovery, with a 346% increase in value since dipping to just over $15,000 in late 2022.

In 2024, Bitcoin has experienced a price surge of approximately 70%. Despite hitting this new all-time high, Bitcoin quickly dipped below $67,000 and is currently trading at $67,300 as of 10:50 a.m. EST.

The cryptocurrency market has faced challenges following Bitcoin’s previous all-time high, including the collapse of Terra Luna’s ecosystem and the bankruptcy of FTX. These events have had a significant impact on the sector.

The approval of spot Bitcoin ETFs in the United States on Jan. 11 is believed to have played a role in initiating the recent bull market, with inflows exceeding expectations.

For more news and updates on cryptocurrencies and finance, be sure to explore Global Crypto News.

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