According to the analytical portal CoinMarketCap, on Monday, March 11, Bitcoin broke through the resistance level of $70,000 and reached a new all-time high, exceeding the levels of November 2021.
The first cryptocurrency rose by 3.9% to $71,099. CoinMarketCap experts note that there is still a large influx of money into spot exchange-traded funds (ETFs) for Bitcoin, and investor interest is fueled by the prospect of lowering interest rates from the Federal Reserve.
Over the past 24 hours, the price of Bitcoin has increased by 2.3%. On the weekly timeframe, BTC rose 10%. The total capitalization of the crypto market increased by 1.56% and reached $2.68 trillion. Bitcoin is currently trading between $71,130 and $71,411. Earlier, Pershing Square Capital CEO Bill Ackman said that the rise in Bitcoin could have serious consequences for the production and consumption of electricity, so it is worth buying.
