For the first time in its history the 70,000 barrier on Friday (8.3.2024) before retreating again to $67,000. Earlier, bitcoin had climbed intra-sessionally up to $70,170 , surpassing the previous record noted on Tuesday. The sharp rise began from the time the US stock market opened as with the introduction of ETF spot bitcoin in negotiation the large “movements” in cryptocurrencies now tend to take place during traditional stock trading hours. The ‘exploitation’ earlier at the meeting may partly be due to the February job report with investors hoping that the highest unemployment rate and the lowest of the initial employment growth in December and January will pave the way for the Fed to start reducing interest rates later this year. However, crypto-currency transactions were particularly unstable this week. After bitcoin reached a new record Tuesday for the first time in more than two years, it quickly retreated up to 10% , drifting along with him and other cryptocurrency and shares associated with them, then recovering much of these losses the following day. The variable index of bitcoin has been at the highest level for almost a year, according to TradingView.
Over $70,000 bitcoin for the first time in its history
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