Bitcoin rockets to record above $69,200

WASHINGTON: Bitcoin soared to a new record high on Tuesday, fuelled by investors pouring money into US spot exchange-traded crypto products and the prospect that global interest rates may fall. The world’s largest cryptocurrency hit a high of $69,202, topping November 2021’s all-time peak of $68,999.99. Investor interest has increased since the Securities and Exchange Commission approved 11 spot bitcoin ETFs in late January. It then traded lower and was last at $65,792. The bitcoin all-time high marks a turning point for crypto,“ said Nathan McCauley, CEO and co-founder of crypto platform Anchorage Digital. “Traditional institutions were once sitting out; today, they are here in full force as the principal drivers of the crypto bull market.”