Summary
TLDR: Bitcoin reaches new all-time high above $73,000 before quickly dipping. Price volatility continues as it climbs back up to $71,102. Demand for spot Bitcoin ETFs and upcoming halving event contribute to hype. Liquidations of crypto positions hit $356 million over the last 24 hours.
Key Points
1. Bitcoin reached a new all-time high of $73,027 on Tuesday before quickly dipping back down.
2. Despite the volatility, Bitcoin is still up 47% over the last 30 days, fueled in part by demand for spot Bitcoin ETFs.
3. The recent price discovery action comes ahead of next month’s halving event, which could benefit the price by slowing the growth of Bitcoin’s circulating supply.