Bitcoin Hits New All-Time High of $72,000

Bitcoin reached a new record high of $72,000 on Monday, marking a significant milestone for the cryptocurrency. The price of Bitcoin rose by approximately 5% on Monday morning, continuing a remarkable rally that has seen it climb nearly 12% over the past week. This surge comes after Bitcoin hit a record high of around $69,000 last week.

Since the beginning of the year, Bitcoin has experienced a significant increase from around $42,000, with gains of approximately 70%. This surge has allowed Bitcoin to surpass its previous prices from 2021, when the market faced major crashes and scandals.

Ether, the second-largest cryptocurrency after Bitcoin, has also seen a rise of nearly 16% over the past week, reaching $4,064. This marks the first time Ether has broken the $4,000 barrier since late 2021, with year-to-date gains of around 80%.

In addition to Bitcoin and Ether, other cryptocurrencies like Binance’s BNB, Solana’s SOL, Dogecoin, Shiba Inu, Avalanche, and Polkadot have also experienced gains in the past week.

The recent surge in the crypto market can be attributed to increasing investor enthusiasm, the approval of crypto exchange-traded funds (ETFs), and the upcoming Bitcoin halving. The U.K.’s financial regulator has softened its stance on digital assets, allowing some Bitcoin-linked securities to be listed on the stock market. This follows the SEC’s authorization of Bitcoin ETFs in January.

As of now, the total cryptocurrency market is valued at $2.84 trillion, having grown nearly 4% in the last 24 hours and around 8% over the past week. Bitcoin remains dominant in the market with a market capitalization of $1.41 trillion, followed by Ethereum at $484.5 billion.

Former President Donald Trump also expressed positive views on Bitcoin, calling it an “additional form of currency” that has gained popularity. Trump’s comments signal a shift from his previous criticism of cryptocurrencies, indicating a more favorable stance on digital assets.

For more news and updates on cryptocurrencies, visit Global Crypto News.

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