Bitcoin Breaks $70,000, First Higher High Since March's Record

Oct 28, 2024, 10:10 PM

Bitcoin's price surged past $70,000 on October 28, 2024, marking its highest level since late July and signaling renewed bullish momentum in the cryptocurrency market. The digital asset advanced steadily, breaking through key psychological thresholds at $68,000 and $69,000 before surpassing the $70,000 mark for the first time in four months. Market analysts noted that breaking $70,000 represents the first higher high in market structure since the all-time high above $73,700 recorded in early March. The rise reflects increased investor confidence ahead of the US presidential elections. The Fear and Greed Index, a measure of market sentiment, stood at 72, indicating 'Greed' and suggesting a positive outlook among investors.