Watch the cryptocurrency market: Bitcoin hits $70,000, with sights set on new heights

Due in large part to large inflows into US spot Bitchttp://bitcoin.orgoin exchange-traded funds (ETFs) and weak US economic data that suggests future rate cuts by the Federal Reserve, the price of bitcoin soared beyond $70,000 on Tuesday. If present trends continue, analysts are confident about fresh highs this week.

With Bitcoin surpassing $70,000 on Tuesday due to increased risk appetite and large inflows into U.S. spot Bitcoin ETFs, the cryptocurrency market is giddy with excitement. This week, analysts suggest that we may see new highs, particularly if the negative US economic data keeps pushing for rate reduction by the Federal Reserve.

Key stats

Market capitalization

‪1.39 T‬USD

Fully diluted market cap

‪1.48 T‬USD

Trading volume 24h

‪29.19 B‬USD

Volume / Market Cap

0.0211

All time high

73794USD

Circulating supply

‪19.71 M‬

Max supply

‪21.00 M‬

Total supply

‪19.71 M‬