Bitcoin Smashes Through All-Time High, Tops $70,000

The asset is up 4.3% today, meanwhile Ethereum tops $4,000.

By: Pedro Solimano Loading...

Bitcoin B logo with an arrow pointing up

Bitcoin has been skyrocketing off the back of spot Bitcoin ETF flows, and within days found its footing after dropping more than 10% on March 5, when it broke its previous all-time high.

It reached as high as $70,045 today and is trading just below $70,000 on Bistamp, at the time of writing.

Bitcoin Price - Bitstamp via TradingView

Today’s gains also have Ethereum tearing through the $4,000 mark, surpassing it by a couple of dollars early Friday morning. It hasn’t seen these levels since late December 2021.

The second-largest crypto in the market is now changing hands for $3,925 today, notching a whopping 70% gain in the past month.

Potential price catalysts for ETH include the Dencun upgrade, and the potential approval of a spot ETH ETF, with financial firms lining up their applications with the SEC.

Some might be suffering from bear market PTSD, but all signs are indicating a healthy bull run. Since Feb. 1, the entire crypto market has gained $1 trillion in market cap, according to Coingecko.

Memecoins are another indicator of the sentiment in the crypto market. They have been popping off, with Solana-based tokens garnering the most attention from degens and traders alike.

In fact, four of the top five categories with most gains in the past seven days relate to memes. These include cat-themed tokens, dog-themed, fractionalized NFTs, and memecoins.