Bitcoin has reached a new all-time high, surpassing its previous record set in November 2021. The cryptocurrency’s price topped $69,210 before retreating. This year’s rally, fueled by excitement over Bitcoin ETFs and the upcoming halving event, has accelerated Bitcoin’s growth. Despite reaching a new high, Bitcoin experienced a quick drop, indicating a lack of momentum to emulate the rise seen in 2020. Significant sell orders have been added at $70,000 and $71,000, contributing to the stalemate. Bitcoin’s resilience and ability to bounce back despite challenges demonstrate its potential as a decentralized, scarce digital currency.
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