The world’s largest cryptocurrency (BTC) has rocketed above $70,000 for the first time in its 15-year history.
Bitcoin briefly struck an ATH late on Friday after it missed out on hitting $70,000 by a handful of dollars, before a spate of profit taking sent it lower.
But weekend trades continued to move in the right direction for BTC/USD, and the pair is currently trading at around $70,200 at the time of writing.
Bitcoin hits an all-time high – Source: tradingview.com
It means bitcoin has added 66% year to date and as much as 240% year on year, suggesting more momentum is left in the exchange-traded fund (ETF) hype rally that has bolstered the bitcoin markets this year.
Data shared by Bloomberg shows that Bitcoin ETFs, which were approved by the Securities and Exchange Commission (SEC) on 10 January, now command over $56 billion of all bitcoin in circulation
This is approximately 4% of the circulating supply.
Ethereum (ETH) is close to breaching $4,000 for the first time ever, with the ETH/USD pair currently swapping for $3,980.
Global cryptocurrency market capitalisation is currently set at $2.65 trillion, with bitcoin’s market cap comprising 53.8% of the total market.