Bitcoin soared to a record high, surpassing $69,000, a level not seen since 2021. Regulatory pressures forced Binance to exit the Nigerian market entirely. Meanwhile, Grayscale's GBTC Bitcoin holdings dropped by 33% post its conversion to a spot Bitcoin ETF. Bitcoin peaked at $69,200 on March 5, marking significant growth following the approval of spot ETFs. This milestone was achieved 846 days after its last peak in 2021. The rally represented a 348% increase from its low near $15,400. Remarkably, Bitcoin set new record highs before the quadrennial halving event, typically a crucial price catalyst. However, the optimism was short-lived as Bitcoin's price retraced to below $64,000 on the same day. Major whales manipulating the market through spoofy sell orders were blamed for this downward pressure. Binance revealed its withdrawal from the Nigerian market, discontinuing all NGN-related services starting March 8. Grayscale has witnessed significant outflows from its GBTC Bitcoin holdings post-conversion to an ETF, with nearly 33% of the assets withdrawn since mid-January. Despite the fund's outflows, Bitcoin is approaching its all-time high on Coinbase. This article does not offer investment advice. Read more AI-generated news on: https://app.chaingpt.org/news

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