Bitcoin Tops $60K for First Time Since November 2021
The rally continued Wednesday as the spot ETFs continued to see massive inflows of fresh money.
The price of bitcoin (BTC) rose above $60,000 during morning U.S. trading hours on Wednesday, it’s first time above that level since the peak of the last bull market in November 2021.
This week’s rally has coincided with huge inflows into the U.S.-based spot ETFs, with the new funds adding more than another 12,000 bitcoin on Tuesday after adding about 10,000 on Monday. Bitcoin has been on a ferocious rally for months, but that has picked up this week. Just a few days ago, its price was below $51,000.
At press time, bitcoin had cleared another $1,000 milestone, surpassing $61,000 – up more than 8% over the past 24 hours. The broader CoinDesk 20 Index, a benchmark of the biggest cryptocurrencies, had rallied 5.8% over the same time period.
With the $60,000 level out of the way, bitcoin bulls might have their sights on the crypto’s all-time high of $69,045 set on Nov. 10, 2021, according to Coingecko.
BY: Amitoj Singh and Stephen Alpher
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