Summary
Bitcoin is nearing its all-time high again, breaking $70,000 with the halving less than 25 days away. The cryptocurrency is trading at $70,561, up 9% in the last 24 hours. Despite recent fluctuations, Bitcoin has been on a positive trend since the SEC approved spot Bitcoin ETFs in January. Other cryptocurrencies like Ethereum and Solana are also rising. Experts advise caution despite the bullish sentiment around Bitcoin and the upcoming halving event.
Key Points
1. Bitcoin is trading at $70,561, up 9% in the last 24 hours and 5.5% over the last seven days, nearing its all-time high again.
2. Bitcoin has been riding a wave of euphoria since the U.S. Securities and Exchange Commission (SEC) approved the first spot Bitcoin ETFs in January, with the hope that the price of Bitcoin will double, if not quadruple, after the upcoming halving event.
3. The rest of the crypto market is also rising alongside Bitcoin, with Ethereum jumping nearly 9% to a current price of $3,630 and Solana up almost 13% to a price above $194.