Bitcoin New All-time High Returns After 846 Days

Key Points:

• Bitcoin new all-time high reaches $69,045 after 846 days, marking a historic milestone in its recovery journey.
• Ethereum also sees gains as Bitcoin’s market capitalization surpasses $1.3 trillion, reclaiming its previous peak.
• Analysis reveals 100% of Bitcoin addresses are in profit, fueled by buying pressure from U.S.-based spot Bitcoin ETFs.

According to CoinMarketCap data, Bitcoin (BTC) has shattered its previous record high, soaring to $69,045 on Tuesday, marking a historic moment after 846 days.

Read more: Bitcoin Price Prediction For 2024, 2025, 2026 and 2030: Super Crypto Bull Run

Bitcoin New All-time High Returns to $69,000 Mark

Bitcoin new all-time high comes amidst a 28-month-long journey of recovery, witnessing a remarkable turnaround from a bottoming out above $15,000 in late 2022. The leading cryptocurrency’s resurgence has been nothing short of remarkable, appreciating by approximately 350% since its lowest point. In 2024 alone, it has seen an increase of roughly 70%.

This recent surge saw Bitcoin briefly touch $68,000 late Monday before overcoming resistance and surging past its previous all-time high. Ethereum (ETH) also saw gains, hovering near $3,800. Bitcoin’s market capitalization surpassed $1.3 trillion, reclaiming its previous peak and reaching an all-time high in various currencies, including the euro.

Bitcoin Investors Rejoice as 100% of Addresses Turn Profitable

An analysis by on-chain data aggregator IntoTheBlock revealed another significant milestone: 100% of Bitcoin addresses, totaling 1.06 million, are currently in profit. This remarkable feat underscores the widespread optimism surrounding Bitcoin’s current trajectory.

Bitcoin new all-time high is largely attributed to the substantial buying pressure from newly established U.S.-based spot Bitcoin ETFs. Since their inception on January 11, these ETFs have fueled a historic rally. Initially priced at around $45,000, Bitcoin swiftly rallied above $50,000 by mid-February, experiencing a brief dip before resuming its upward trajectory.