🎉🚀 Bitcoin hit a new all-time high in USD on Tuesday, breaking its previous record of $69,000 set on November 10, 2021! This milestone brings Bitcoin's market cap to over $1.35 trillion, equal to the entire global supply of silver. 💰
The price surge followed the launch of several U.S. Bitcoin spot ETFs in January, opening the doors for institutional buyers who couldn't hold the cryptocurrency directly. 📈 The rally began when the U.S. stock market opened, a trend likely to continue as ETFs take up a larger share of Bitcoin's daily trading volume. 📊
Notably, Bitcoin has already surpassed all-time highs against other national currencies like AUD, CAD, EUR, and GBP. 💱 Tuesday's rally also caused $536 million worth of liquidations in 24 hours, with $286 million on short trades. 📉
This new high is significant as it breaks the trend of Bitcoin reaching new highs only after its "halving" event, which cuts the rate of new coins minted in half. The next halving is estimated for April 2024. 📅 So, let's celebrate this historic moment for Bitcoin! 🎊🥳
The price surge followed the launch of several U.S. Bitcoin spot ETFs in January, opening the doors for institutional buyers who couldn't hold the cryptocurrency directly. 📈 The rally began when the U.S. stock market opened, a trend likely to continue as ETFs take up a larger share of Bitcoin's daily trading volume. 📊
Notably, Bitcoin has already surpassed all-time highs against other national currencies like AUD, CAD, EUR, and GBP. 💱 Tuesday's rally also caused $536 million worth of liquidations in 24 hours, with $286 million on short trades. 📉
This new high is significant as it breaks the trend of Bitcoin reaching new highs only after its "halving" event, which cuts the rate of new coins minted in half. The next halving is estimated for April 2024. 📅 So, let's celebrate this historic moment for Bitcoin! 🎊🥳