{"id":271411,"date":"2024-03-26T00:45:53","date_gmt":"2024-03-25T19:15:53","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=271411"},"modified":"2024-03-26T00:45:53","modified_gmt":"2024-03-25T19:15:53","slug":"bitcoin-breaks-us70000-amidst-market-optimism-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-breaks-us70000-amidst-market-optimism-crypto-news\/","title":{"rendered":"Bitcoin breaks US$70,000 amidst market optimism – Crypto News"},"content":{"rendered":"

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Bitcoin\u2019s value surged past US$70,000 on Monday to reach its highest point since March 16, according to CoinGecko data.<\/p>\n

The price spike comes in the face of a record $942 million withdrawal from digital asset investment products in the week prior, breaking a seven-week streak of capital inflows. <\/p>\n

Investment firm Bernstein has responded to the bullish trend by raising its Bitcoin year-end forecast to US$90,000, signaling confidence in the cryptocurrency\u2019s future and associated mining stocks.<\/p>\n

Monday\u2019s market movement followed the Swiss National Bank\u2019s unexpected rate cut announcement last week and the U.S. Federal Reserve policymakers\u2019 discussions on rate reductions. <\/p>\n

Meanwhile, BlackRock\u2019s introduction of the BlackRock Institutional Digital Liquidity Fund (BUIDL)<\/a>, a tokenized fund on the Ethereum blockchain, has been widely perceived as a positive development for the crypto industry.<\/p>\n

Bitcoin is now less than a month away from its expected halving date next month when the network\u2019s rewards will be cut from the current 6.25 BTC to 3.125 BTC per block.<\/p>\n

The halving slows down the inflowing supply of Bitcoin, which some believe will contribute to its scarcity.<\/p>\n

Some market observers maintain a high probability of Bitcoin reaching the US$100,000 milestone within the year. U.K. bank Standard Chartered<\/a> last year set a US$120,000 target for the digital asset.<\/p>\n

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Bitcoin\u2019s value surged past US$70,000 on Monday to reach its highest point since March 16, according to CoinGecko data. The price spike comes in the face of a record $942 million withdrawal from digital asset investment products in the week prior, breaking a seven-week streak of capital inflows. Investment firm Bernstein has responded to the […]<\/p>\n","protected":false},"author":2,"featured_media":271412,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-271411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/271411","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=271411"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/271411\/revisions"}],"predecessor-version":[{"id":271414,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/271411\/revisions\/271414"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/271412"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=271411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=271411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=271411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}