{"id":26793,"date":"2024-02-27T07:16:11","date_gmt":"2024-02-27T07:16:11","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-breaks-57000-to-reach-within-20-of-all-time-high\/"},"modified":"2024-02-27T07:16:11","modified_gmt":"2024-02-27T07:16:11","slug":"bitcoin-breaks-57000-to-reach-within-20-of-all-time-high","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-breaks-57000-to-reach-within-20-of-all-time-high\/","title":{"rendered":"Bitcoin breaks $57,000 to reach within 20% of all-time-high"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/02\/bitcoin-price-analysis-metacade-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/02\/bitcoin-price-analysis-metacade-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/02\/bitcoin-price-analysis-metacade-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/02\/bitcoin-price-analysis-metacade-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Bitcoin breaks $57,000 as BlackRock\u2019s IBIT hits record with $1.3 billion<\/li>\n<li>BTC could reach or break past its all-time high before the halving<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\"><a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin<\/a>\u2019s pre-halving rally has seen the bellwether crypto reach $57,000, pushing to within just 20% of its all-time high of $69,000 in 2021.<\/span><\/p>\n<p><span style=\"font-weight: 400\">After <a href=\"https:\/\/coinjournal.net\/news\/bitcoin-hits-54900-as-blackrocks-ibit-trades-1b\/\">breaking past the $54,000 level<\/a>, Bitcoin price extended its gains to above $57k late Monday. On Coinbase, BTC rose to $57,250, with total short liquidations reaching $271 million. Bitcoin accounted for $189 million of the liquidated shorts.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Ethereum\u2019s surge to highs of $3,280 also saw over $67.8 million shorts liquidated.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, altcoins were largely spectators to Bitcoin\u2019s bullish show. Market intelligence platform Santiment <\/span><a href=\"https:\/\/twitter.com\/santimentfeed\/status\/1762362402446962868\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">shared<\/span><\/a><span style=\"font-weight: 400\"> this on X Tuesday morning.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400\">\u201c#Bitcoin has now scratched its way to a market value as high as $57,250, reaching within 19.9% of the $68.6K high established 27 months ago. Now at a pivotal moment, traders\u2019 interest in $BTC is exceedingly high as #altcoins have temporarily taken a back seat.\u201d<\/span><\/p>\n<\/blockquote>\n<h2>BlackRock\u2019s IBIT trades $1 billion worth of shares<\/h2>\n<p><span style=\"font-weight: 400\">Bitcoin\u2019s rally coincided with a stellar performance by spot Bitcoin ETFs, with BlackRock\u2019s iShares Bitcoin Trust ($IBIT) outpacing the rest. According to Bloomberg ETF analyst Eric Balchunas, $IBIT accounted for $1.3 billion of the total $2.4 billion volume recorded on Monday.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">It&#8217;s official..the New Nine Bitcoin ETFs have broken all time volume record today with $2.4b, just barely beating Day One but about double their recent daily average. <a href=\"https:\/\/twitter.com\/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$IBIT<\/a> went wild accounting for $1.3b of it, breaking its record by about 30%. <a href=\"https:\/\/t.co\/MiCs1rzttM\">pic.twitter.com\/MiCs1rzttM<\/a><\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1762224483559977037?ref_src=twsrc%5Etfw\">February 26, 2024<\/a><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">The upside momentum also followed news that <a href=\"https:\/\/coinjournal.net\/news\/microstrategy-buys-additional-3000-bitcoin-worth-155m\/\">MicroStrategy had purchased 3,000 BTC<\/a>, bringing its total to 193,000 BTC acquired for a total $6.09 billion. The company\u2019s latest BTC purchase was for $155 million.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Bitcoin was trading around $56,430 early morning on Tuesday.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/bitcoin-breaks-57000-to-reach-within-20-of-all-time-high\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Bitcoin breaks $57,000 as BlackRock\u2019s IBIT hits record with $1.3 billion BTC could reach or break past its all-time high before the halving Bitcoin\u2019s pre-halving rally has seen the bellwether crypto reach $57,000, pushing to within just 20% of its all-time high of [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":26794,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/26793"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=26793"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/26793\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/26794"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=26793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=26793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=26793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}