Bitcoin breaks $65k, reaching highest level since November 2021

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On March 4, 2024, Bitcoin (BTC) climbed above $65,300, lower than $4,000 away from its all-time-high.

When writing, BTC fell under this worth, at present buying and selling at $65,1050 and having solely 6% left till reaching the all-time high (ATH), based on CoinMarketCap. Buying and selling volumes proceed to hit new ranges, with an 80% enhance to $40 billion.

The concern and greed index reached 82 factors, based on Coinstats. Over the previous 24 hours, the indicator has decreased by one unit. “Excessive greed” is indicated on a scale with a worth from 76 to 100. Such index indicators could point out that FOMO sentiment is prevalent out there.

Bitcoin breaks $65k, reaching highest level since November 2021 - 1
Supply: Coinstats

Towards the backdrop of a bounce within the price of the second largest cryptocurrency, Ethereum (ETH), confirmed development above the $3,500 stage. ETH is testing a multi-year excessive, reaching $3,520. The final time the token rose to this stage was greater than two years in the past – in January 2022.

Of the highest 10 by capitalization, Cardano (ADA) and Dogecoin (DOGE) present essentially the most important development – 8% and 24%, respectively. On the similar time, towards the backdrop of market development, the capitalization of the stablecoin USDT reached $100 billion (+9% because the starting of the yr).

Crypto analyst PlanB earlier predicted that Bitcoin would over $100,000 in 2023-2024 bull run. Beforehand, he accurately predicted cryptocurrency quotes in August, September, and October. The analyst is understood for utilizing the stock-to-flow (S2F) mannequin, which assumes the worth of Bitcoin will rise to $1 million after 2024.

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