Bitcoin maintained its highest market value in two years on Tuesday, smashing over $68,600 and capturing the attention of market observers as the massive cryptocurrency while holding the highest market value.
Bitcoin has maintained its 50% current and all-time high peak over the last few weeks, with inflows from bitcoin-listed funds in the United States.
According to Asian clock, it remained at $68,500 on Tuesday before increasing to $68,828, which is slightly higher than the all-time high of $68,999.99, which was reached in November 2021.
In the United States, exchange-traded funds for spot bitcoin were approved at the beginning of 2024. It has earned the trust of investors and
The market rally coincides with record-breaking performances on stock indexes such as Japan’s Nikkei, the S&P 500, and the tech-heavy Nasdaq, as well as a decline in volatility measures for equities and foreign exchange.
Ether, a smaller rival to bitcoin, has seen its value rise by over 50% this year amid speculation that it may soon benefit from exchange-traded funds, reaching $3,649 most recently.
In related news, the U.S. Securities and Exchange Commission (SEC) has extended its deliberation on asset manager BlackRock’s application for a spot ethereum exchange-traded fund, as per a regulatory filing on Monday.
Meanwhile, Tether, a crypto company, announced on its website that the total value of dollar-pegged stablecoins it has issued has exceeded $100 billion. Tether issues stablecoins that are designed to maintain a constant value of $1.
