After a long period of 28 months and a downward decline of 77%, the price Bitcoin BTC
-4.08%
Bitcoin is up about 346% since bottoming above $15,000 in late 2022. This year alone, it has increased by about 70%.
Events that impacted the broader cryptocurrency bear market included the collapse of the Terra Luna ecosystem and the subsequent bankruptcy of cryptocurrency exchange FTX. Both have disrupted larger industries as they investigate related infections.
For many, the US approval of a spot Bitcoin exchange-traded fund ultimately spurred a new cryptocurrency bull market, bringing inflows that in some ways exceeded even optimistic expectations.
Daily trading volume has surged along with the inflow of Bitcoin ETFs and has been increasing significantly since the end of last year.
On Monday morning, the price of Bitcoin in euros and pounds sterling hit new all-time highs, while its market capitalization in U.S. dollars surpassed its previous high of $1.303 trillion.
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