On Monday, a flood of capital brought Bitcoin within striking distance of record values, sending it soaring to a two-year high and breaching past $68,000. At its peak, the price was $68,800.
At the time of writing, Bitcoin was trading at $67,980, up 6.6% and 20.6% in the daily and weekly timeframes, data from Coingecko shows.
In recent weeks, as investment in bitcoin funds listed in the United States has increased dramatically, the value of the biggest cryptocurrency by market cap has increased by half this year.
Bitcoin Heating Up
As more and more people get interested in and optimistic about the market, Bitcoin’s incredible upward trajectory becomes clear in a thorough examination of the weekly chart.
The bitcoin price has recently surged, helped along in part by the adoption of spot Bitcoin ETFs, and is already approaching the all-time high of $69K, which the cryptocurrency attained in November 2021. It has already surpassed numerous important resistance levels.
Anton
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