The world’s most popular cryptocurrency, Bitcoin, saw its price soar to a new all-time high record of $69,170.63 on Tuesday afternoon.
The new pricing exceeded the record high of $68,999.99 set in November 2021.
The development comes as investors began to seriously consider U.S. spot exchange-traded cryptocurrency products due to worries that interest rates could drop globally.
For instance, BlackRock’s iShares Bitcoin Trust (IBIT.O), which opens a new tab, received over $2 billion of the $2.2 billion net flows into the top 10 U.S. spot bitcoin funds last Friday, according to LSEG statistics.
In the last 24 hours, the value of bitcoin has fluctuated between an intraday low of $63,460.01 and a high of $69,170.63, according to data posted on coinmarketcap, a website that records real-time market data for digital currencies.
“The bitcoin all-time high marks a turning point for crypto,” Reuters quoted the CEO and co-founder of crypto platform, Anchorage Digital, Nathan McCauley.
“Traditional institutions were once sitting out; today, they are here in full force as the principal drivers of the crypto bull market,” he added.
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