Cryptocurrency Price on March 10: Bitcoin near $69,600; Dogecoin, Polygon rise up to 3%
The leading cryptocurrency topped the $70,000 mark for the first time on Friday, boosted by investor demand for new US spot exchange-traded crypto products and expectations for global interest rates to fall.
In recent weeks, billions of dollars have poured into ETFs, bolstering the market. This surge in investment is further fueled by optimistic prospects, including an upgrade to the Ethereum blockchain platform, home to the Bitcoin rival Ether, and an upcoming Bitcoin «halving» event in April, which reduces the rate of Bitcoin minting.
The approval of 11 spot bitcoin ETFs by the US Securities and Exchange Commission in late January marked a watershed moment for the industry, following an 18-month-long crypto winter plagued by a string of high-profile corporate bankruptcies and scandals.
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View Details»Net flows into the 10 largest US spot bitcoin funds reached $2.2 billion in the week ended March 1, with more than $2 billion of that going into BlackRock's iShares Bitcoin Trust, according to LSEG data.
The recent optimism over Bitcoin has also spilled
