<\/p>\n
BTC\u2019s record price-high follows the impressive performance of spot Bitcoin ETFs and comes just weeks before its fourth halving event.<\/p>\n
The price of Bitcoin posted a new all-time high, with BTC changing hands above its previous November 2021 high of $68,640, according to CoinGecko.<\/p>\n
BTC last changed hands above $68,730 and followed an 8% move in 24 hours, according to CoinGecko. Bitcoin\u2019s capitalization is also at a record high of nearly $1.35 trillion, while the combined crypto market cap is $2.54 trillion \u2014 its highest level since November 2021 and 10% shy of its $2.8 trillion all-time high.<\/p>\n The move has driven nearly\u00a0 $416 million<\/a>\u00a0worth of digital asset liquidations over the past 24 hours including $250 million worth of shorts getting margin called, according to CoinGlass. BTC accounted for $132.5 million worth of liquidations.<\/p>\n <\/p>\n The milestone marks a gain of 156.5% for BTC in almost five months, with BTC rebounding from a low of $26,729 on Oct. 12, The sustained rally has largely been attributed to months of giddy speculation surrounding the then-pending applications for spot Bitcoin ETF, culminating in a frenzy of\u00a0 institutional activity<\/a>\u00a0surrounding the sector after the funds\u00a0 debuted<\/a>\u00a0on Jan. 10.<\/p>\n The fourth quadrennial\u00a0 Bitcoin halving<\/a>\u00a0is also set to take place next month, with the event reducing the rate of new BTC issuance by 50% and placing bullish pressure on the supply and demand dynamic of the Bitcoin markets.<\/p>\n The halving will follow the spot Bitcoin ETFs driving deflationary pressure on Bitcoin, with the funds recently\u00a0accumulating\u00a0Bitcoin at a pace exceeding the current rate of new BTC issuance by as much as 1,000%<\/a>.<\/p>\n The spot Bitcoin ETFs posted their second strongest daily volume on March 4, with\u00a0 $5.5B<\/a>\u00a0worth of shares traded, according to data from Bloomberg. BlackRock\u2019s IBIT ETF hosted $2.4B worth of volume alone, with its assets under management climbing to $11B. The funds hosted a record high of\u00a0 $8B<\/a>\u00a0in volume on Feb. 28.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" BTC\u2019s record price-high follows the impressive performance of spot Bitcoin ETFs and comes just weeks before its fourth halving event. The price of Bitcoin posted a new all-time high, with BTC changing hands above its previous November 2021 high of $68,640, according to CoinGecko. BTC last changed hands above $68,730 and followed an 8% move […]<\/p>\n","protected":false},"author":2,"featured_media":259146,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-259145","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/259145","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=259145"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/259145\/revisions"}],"predecessor-version":[{"id":259152,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/259145\/revisions\/259152"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/259146"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=259145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=259145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=259145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Spot ETFs propel Bitcoin to new highs<\/h2>\n