Bitcoin exceeded $65,000 for the first time since November 2021

Bitcoin has risen sharply since the previous week against the background of the fact that the trading volume of bitcoin funds registered in the United States has also increased significantly.

At first, the growth of the cryptocurrency accelerated to $64 thousand, and today bitcoin has exceeded the $65 thousand mark for the first time since March 2021. 

At the beginning of the Asian session, the currency rose by almost 6%, reaching $65,316. While the historical maximum of the cryptocurrency is $68.7 thousand, set in November 2021.

In total, since the beginning of 2024, the exchange rate has increased by 50%, with most of the growth occurring in the last few weeks, when the trading volume of bitcoin ETFs registered in the United States increased significantly.

Marcus Thielen, head of cryptanalytic research at 10x Research in Singapore, noted that today investors feel more confident that the price will continue to rise. 

Another popular cryptocurrency, Ethereum, has also risen amid speculation that it will soon have exchange-traded funds, stimulating capital inflows. Since the beginning of the year, Ethereum has grown by more than 50%.

Recall that in January, the United States took an important step towards legalizing BTC, allowing large industry funds such as BlackRock, Invesco and Fidelity, as well as smaller competitors, including Valkyrie, to start trading. After that, the cryptocurrency began to rapidly increase its value. Today, the capitalization of the cryptocurrency exceeds $1.27 trillion.