Bitcoin passed the $70,000 mark for the first time on March 8, as investors enjoyed a cryptocurrency rally that has lifted many other coins.
The coin currently sits just below that mark as of today. The ascent to $70,000 is part of a rally that began in mid-October 2023.
However, the rally entered second-gear on January 11, when the U.S. Securities & Exchange Commission approved bitcoin ETFs for trading.
The exchange-traded funds (ETFs) provide institutional and retail investors with a convenient and regulated avenue, expanding its investor base and driving up demand.
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