Bitcoin jumped past $67,000 for the first time to a new all-time high, part of a wider recent rally in the cryptocurrency sector.<\/p>\n
The world\u2019s largest digital coin by market value gained as much as 2.5% on Tuesday to $67,778, taking out the last record set on Oct. 20 at just below $67,000. The climb in cryptocurrencies overall has taken their combined value above $3 trillion.<\/p>\n
\u201cThis breakout in Bitcoin might signal the start of a final push-up for the fourth quarter before the crypto market shows more pronounced consolidation into next year,\u201d Fundstrat said in a technical-strategy report Monday. \u201cStrength in Bitcoin, Ethereum and many other altcoins looks likely in the weeks to come.\u201d<\/p>\n
Bitcoin hit its October record following the launch of the first Bitcoin-linked exchange-traded fund for U.S. investors. The ProShares Bitcoin Strategy ETF, which tracks Bitcoin futures, drew more than $1.2 billion in volume on its debut.<\/p>\n
The little more than decade-old market for digital assets has already roughly quadrupled from its 2020 year-end value. Bitcoin has gained over 130% year-to-date.<\/p>\n
The ride was volatile: The token plunged below $30,000 in June amid criticism of its energy consumption and China\u2019s cryptocurrency crackdown. It then began to recover in part as the crypto sector adjusted to China\u2019s broadsides.<\/p>\n
Aside from Bitcoin, blockchain networks like Ethereum and Solana continue to upgrade and attract new functionality. Demand for decentralized finance and non-fungible tokens is also growing. Meanwhile, memecoins like Dogecoin and Shiba Inu continue to attract speculative investors.<\/p>\n","protected":false},"excerpt":{"rendered":"
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