News - Bitcoin reaches new all-time high at $73,000

By Mike Hesp

Bitcoin reaches new all-time high at $73,000

Shortly before the start of trading in the US, the Bitcoin price breaks out and reaches a new all-time high. This is the state of the market.

The price of the leading cryptocurrency has just reached a new all-time high of $73,000. Over the past seven days, the BTC-price rose by a peak of 6.36 percent.

At the time of writing, Bitcoin is trading at a price of $71,955.

The market capitalization is $1.4 trillion. BTC thereby defends its place among the world's 10 most valuable assets, ahead of silver and behind Alphabet (Google).

The entire crypto sector is also making huge profits, which is reflected in the total market capitalization, which currently stands at $2.72 trillion. The Fear & Greed Index stands at 81: extreme greed.

For Peter McCormack, host of the well-known Bitcoin podcast Whatbitcoindid, the new all-time high is a reason to celebrate:

One reason for the price breakout could be the continued demand for Bitcoin spot ETFs. According to data from Apollo BlackRock and Co. withdrawn 419,000 BTC totaling more than $19 billion from the market since ETF trading began. By comparison, only 900 BTC per day is added through mining.

Bitcoin futures open interest stands at $36 billion at the time of writing, according to data from Coinglass. At 31 percent, the CME exchange is the most popular with investors - Binance ranks second.

It remains to be seen whether the Bitcoin price will rise further northward. However, there could be at least a temporary price correction if investors realize gains.

The current price trend is prompting industry experts to make new predictions. US$100,000 to US$300,000 - an estimate from author Robert Kiyosaki - is certainly possible by the end of the year.

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