Bitcoin Hits New Record Surpassing $70,000, Ethereum Breaks $4,000 Mark

Bitcoin has once again climbed past its earlier record high of $69,210 set on March 5, 2024. The cryptocurrency has impressively maintained its position above $68,000, pushing past its previous peak to reach new high of $70,184 per bitcoin.

In the past two weeks, bitcoin’s value in U.S. dollars surged by nearly 35%, and over the last month, it saw an impressive 60% increase, breaking past its former high. This significant milestone occurred at 10:25 a.m. Eastern Time on a Friday.

Recent statistics reveal that within a one-hour window, bitcoin short positions worth more than $20 million were liquidated. By 10:31 a.m.,  Bitstamp recorded bitcoin’s price hitting the $70,184 mark.

Following the peak at $70,184, bitcoin’s value momentarily fell below $69,000. Nonetheless, throughout 2024, bitcoin has consistently stayed above the $60,000 mark for ten days, breaking its 2021 record twice and setting the stage for potentially more record-breaking moments within the year.

As bitcoin achieved this landmark price, Ethereum (ETH) also reached the $4,000 mark for the first time since 2021. Despite this, the price of ETH eventually fell below the $4,000 level.