Mustafa Rehman
Member
Bitcoin has broken its 2021 record high, surging past $69,000, driven by strong demand for US-listed exchange-traded funds and FOMO (fear of missing out) ahead of the digital coin's halving in April.
The cryptocurrency hit $69,202, surpassing its previous record of $68,991.85 in November 2021. However, it later settled at $66,978.12. In 2022, Bitcoin fell below $16,000, leading to a "crypto winter."
The recent surge is attributed to the approval of US spot Bitcoin ETFs by the SEC and anticipation of the halving in April. Bitcoin's market cap is now $1.31 trillion, up 57.77% this year.
The cryptocurrency hit $69,202, surpassing its previous record of $68,991.85 in November 2021. However, it later settled at $66,978.12. In 2022, Bitcoin fell below $16,000, leading to a "crypto winter."
The recent surge is attributed to the approval of US spot Bitcoin ETFs by the SEC and anticipation of the halving in April. Bitcoin's market cap is now $1.31 trillion, up 57.77% this year.