Bitcoin Tops $65K as Bullish Bets Climb to Record High

Link copied

16:21 | 4 March 2024

Bitcoin Tops $65K as Bullish Bets Climb to Record High

The largest cryptocurrency is now just 5% away from its 2021 high in U.S. dollar terms, having already reached records in other currencies.

Bitcoin (BTC) crossed the $65,000 mark in European morning hours on Monday, inching closer to its lifetime peak of $69,000 set in November 2021 as the value of bullish bets rose to a record.

The largest cryptocurrency has added over 6% in the past 24 hours, while the CD20, a broad-based liquid index of various tokens, rose 5.6%. Bitcoin is now just 5% away from its record in terms of U.S. dollars. It already crossed peak prices against several major and emerging-market currencies in the past week, and today reached a record high in euro terms as well.

Further gains may be in the offing, signs from the futures market indicate. Open interest, or the number of unsettled futures bets, rose to an all-time high of $27 billion, data from Coinglass show. Rising interest is a sign of new money entering the market. Market capitalization also reached a record $2.8 trillion, crossing the $2.7 trillion level set in November 2021, data from multiple sources show.

Over $60 million in shorts, or bets against, higher bitcoin prices were liquidated in the past 24 hours, likely contributing to the surge in prices as losing positions were covered.

Bitcoin open interest has surged to all-time highs. (Coinglass)

Euphoric sentiment, institutional buying demand, and historical gains linked to bitcoin’s halving event are putting the asset on track to cross its lifetime highs of $69,000 in March, some traders previously told CoinDesk.

UPDATE (March 4, 12:09 UTC): Corrects market capitalization in third paragraph.

STORY CONTINUES BELOW

Изображение от starline на Freepik

https://www.coindesk.com/markets/2024/03/04/bitcoin-tops-65k-inches-closer-to-lifetime-peak/

Uncategorized

19:11 | Apr 05, 2024

Toncoin enters top 10 crypto by market capitalization, overtakes Avalanche

Toncoin, The Open Network’s native cryptocurrency token, has once again entered the list of the 10 most significant coins by […]

Uncategorized

16:21 | Mar 04, 2024

Bitcoin Tops $65K as Bullish Bets Climb to Record High

The largest cryptocurrency is now just 5% away from its 2021 high in U.S. dollar terms, having already reached records […]

Hereby "Global Venture Partners s.r.o." notifies that it carries out its activities in accordance with paragraph 1 of article 15, the law on investment companies and investment funds of 19.06.2019. Listed in the ZISIF § 15 para. 1 asset management list managed by the CNB in accordance with § 596 (1) CRR. (F) ZISIF.

IČO: 08241473. LEI: 5493003MKEWYLZ837883...
This information on the site is not an individual investment recommendation, and the financial instruments or transactions mentioned in this material may not correspond to your investment profile, financial situation, investment experience, investment goals. Determining the compliance of a financial instrument or transaction with investment objectives, investment horizon and risk tolerance is the task of the investor
Venture fund Global Venture Partners s.r.o. is not responsible for possible losses of the investor in case of investing in the financial instruments mentioned in this material and does not recommend using the specified information as the only source of information when making an investment decision.
* The Venture Fund does not provide guarantees regarding the reliability and accuracy of the information provided, none of the assumptions contained in this material can be interpreted as a guarantee of investment reliability, income stability and possible benefits associated with management methods or the choice of specific financial instruments. The value of investment products may increase and decrease, the results of investing in the past do not determine future income, the company does not guarantee the profitability of investments in investment funds. All information about the profitability (value gain) of the product managed by Global Venture Partners s.r.o. are quoted excluding commissions and taxes. Charging a commission will reduce the return on investment in investment products. Before purchasing an investment product, you should carefully read the rules of trust management for this product. Services for transactions with foreign securities are available to persons who are qualified investors in accordance with applicable law and are performed in accordance with the restrictions established by applicable law.

Show

Hide