Bitcoin nears all-time high after crossing $65,000

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Mumbai: Earlier in the week, Bitcoin crossed the $65,000 level and came close to the all-time high achieved in November, 2021. The price of Bitcoin hit a two-year high on Monday. Bitcoin has been bullish as investors remain confident that the price will rise further.

Market circles are suggesting that Bitcoin is on its way to close to the $69,000 level given the continued buying by institutional investors and the upcoming April supply cut.

After the Bitcoin spot ETF, the market sentiment was boosted by reports that Ethereum ETFs, other major cryptos, are likely to get approval. Net inflows into the ten largest spot bitcoin ETFs in the US have been $2.17 billion.

In the first two months of the current year alone, Bitcoin has surged more than fifty percent. The launch of Bitcoin ETFs has opened up a new avenue for investors to invest in this risky asset.

The overall market cap of cryptocurrencies rose to $2.38 trillion as a result of the surge in other cryptos including Bitcoin.

In the last twenty-four hours, Bitcoin was seen as low as $61566 and as high as $65300. In the late evening, 65025 dollars was quoted. The price of Ethereum was 3490 dollars.

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