On Mar. 11, Bitcoin reached a new record high of $71,500, driven by increased investor activity in the market. The price of Bitcoin quickly rose to an all-time high of $71,569 on BitMEX, surpassing its previous record. This surge in price has pushed Bitcoin’s market capitalization close to $1.4 trillion, according to data from CoinMarketCap.

Bitcoin prices on South Korean exchanges have also seen a significant increase, surpassing $75,000, primarily due to the Kimchi premium. This premium reflects the price difference attributed to factors like capital controls and high demand in the South Korean market, as reported by Coinranking.

The surge in Bitcoin’s price coincided with a milestone in the trading volume of spot Bitcoin exchange-traded funds (ETFs), which exceeded $100 billion. BlackRock, the world’s largest asset manager, saw its spot Bitcoin ETF reach $10 billion in assets under management, making it the fastest-growing ETF in U.S. history, according to data from Yahoo Finance.

Tom Lee, founder and head of research at FundStrat Global Advisors, remains optimistic about Bitcoin’s future, predicting a potential surge to $150,000 within the next 12 to 18 months.

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