Bitcoin shattered its previous record price again on Friday, March 8th, 2024, reaching a staggering $70,184 per coin on Bitstamp. This surpasses the prior high of $69,210 set just days earlier on March 5th.
Fueled by a recent surge, Bitcoin’s value has climbed an impressive 34.9% in the past two weeks and a remarkable 60.5% over the last month. This latest price milestone further cements Bitcoin’s dominance in the cryptocurrency market.
The record-breaking moment occurred at 10:25 AM Eastern Time on Friday. Interestingly, data shows that over $20 million in short positions on Bitcoin were liquidated within an hour of this peak.
Also Read: Bitcoin Spot ETFs Fuel Record Crypto Fund Inflows of $2.45 Billion
While Bitcoin briefly touched $70,184, it quickly retreated back below $69,000. However, the digital currency remains well above the $60,000 mark, which it has surpassed for a total of ten days in 2024 so far.
With two record-breaking highs already achieved this year, many anticipate even more significant price movements for Bitcoin in the coming months.
Ethereum (ETH), the world’s second-largest cryptocurrency, also experienced a surge, momentarily reaching the $4,000 level for the first time since 2021. However, unlike Bitcoin, Ethereum failed to sustain the price and currently sits below the $4,000 threshold.
Disclaimer: The information provided in this article regarding cryptocurrency is for informational purposes only and should not be considered financial advice. The price of Bitcoin and other digital currencies is highly volatile and can fluctuate significantly. This article does not guarantee any future results or investment success. Please consult with a qualified financial advisor before making any investment decisions.
