Bitcoin experienced a momentary surge to a record high, surpassing $70,000 in a volatile trading session, as cryptocurrency frenzy continues to captivate investors.
The surge was fueled by increased demand for new U.S. spot exchange-traded crypto products and expectations of a global interest rate decline. Reaching as high as $70,105 before a swift drop, it currently trades at $68,317.72.
Recent weeks have witnessed substantial inflows into ETFs, with support from an Ethereum blockchain upgrade and an upcoming bitcoin "halving" event in April. Despite optimism, skeptics caution about the speculative nature of these assets, citing Bitcoin's recent 10% dip below $60,000.
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