Bitcoin (BTC), the world’s largest digital currency, has witnessed a 23.5% surge in the past seven days and is now eyeing its all-time high at $69,000, last witnessed in November 2021.
According to CoinMarketCap data, the price of BTC as of 10:37 p.m. ET on Sunday stood at $63,500, and the trading volume of the digital asset surged by 51.87% in the past 24 hours. Furthermore, the market capitalization of Bitcoin stands at $1.2 trillion.
It is crucial to note that Bitcoin is just 7.37% shy of its all-time high, and in the past 30 days, it has gone up by 47.2%, followed by a 183.8% increase in the past year, as per CoinGecko.
Notably, the approval of spot Bitcoin exchange-traded funds (ETFs) in the United States has played a major role in driving the prices of the leading cryptocurrency. As reported earlier, the volume of the newly approved nine spot BTC ETFs reached an all-time high of $7.69 billion on February 28 as Bitcoin surpassed $56,000.
BlackRock’s iShares Bitcoin Trust (IBIT) has been leading the sector when it comes to inflows and has surpassed over $10 billion in assets under management (AUM). On a year-to-date scale, this marks a whopping 35.2% gain. At the second position, Fidelity’s WiseOrigin Bitcoin ETF recorded an AuM of $6.55 billion.
While commenting on this recent rally of Bitcoin, Ben Armstrong, a prominent influencer in the digital asset space, confidently predicted that the current bull run would come to a stop on April Fool’s Day of 2025. On the other hand, legendary trader Peter Brandt predicted that the end of the current bull run would come in August or September 2025.
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