On Tuesday afternoon, the world’s most popular cryptocurrency, Bitcoin, achieved an impressive milestone by reaching an all-time high price of $69,170.63.
The $69,170.63 rise surpasses the previous record set in November 2021 when it reached $68,999.99.
The surge in Bitcoin’s value coincides with growing interest from investors who are closely monitoring the United States (US) spot exchange-traded cryptocurrency products.
Concerns about potential global drops in interest rates have prompted serious consideration of these investment options.
Also, BlackRock’s iShares Bitcoin Trust (IBIT.O) received a substantial inflow of funds.
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Last Friday alone, it attracted over $2 billion out of the total $2.2 billion net flows into the top 10 U.S. spot bitcoin funds, as reported by LSEG statistics.
Over the past 24 hours, Bitcoin’s value has fluctuated between an intraday low of $63,460.01 and a high of $69,170.63, according to data posted on CoinMarketCap, a website that provides real-time market information for digital currencies.
CEO and co-founder of crypto platform, Anchorage Digital, Nathan McCauley said:
“The bitcoin all-time high marks a turning point for crypto.
“Traditional institutions were once sitting out; today, they are here in full force as the principal drivers of the crypto bull market.”
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