6BTC/USD: Bitcoin Shoots Up 7% to Cross $70,000 as Bargain Hunters Flock Back to Risk
Key Points:
Bitcoin pops 7% to trade above $70K.
On track to close out a solid quarter.
BTC halving to keep traders on edge.
Bitcoin
BTCUSD
jumped more than 7% over the past 24 hours, landing the token at a price tag of more than $70,000 a piece. Crypto traders felt optimistic to return to the risk asset as the bargain-hunting sentiment made a powerful comeback to start the trading week. The valuation of BTC got up to roughly $1.4 trillion.
Digital assets are looking to close out a monumental quarter with Bitcoin sitting at a new all-time high of $73,000 logged earlier this month. But before that, and more importantly, the top cop on Wall Street—the Securities and Exchange Commission—gave the go ahead for 11 spot Bitcoin exchange-traded funds (ETFs) that are winding up to change the investment landscape.
Looking ahead, April is bound to be another milestone month for the original cryptocurrency. Digital asset communities around the world are gearing up to welcome the so-called Bitcoin halving event when the incentive to mine BTC will be slashed in half. Volatility could start picking up way before the expected halving date on April 19.
