CoinMarketCap, Coindesk

Bitcoin Surges Past $70,000, Hits $71,000 Amid High ETF Trading Volumes

Jun 4, 2024, 04:25 PM

Bitcoin has surged past $70,000, reaching a new high of $71,000. This milestone marks a significant increase in its value, supported by substantial trading volumes in Bitcoin ETFs, with $IBIT alone seeing over $750 million in trades. The cryptocurrency's growth in 2024 has been remarkable, maintaining a 63% compound annual growth rate (CAGR). This surge has led to speculation about a potential new all-time high for Bitcoin this week.