Bitcoin (BTC) Surges To $65,000, Only 6% Away From Its All-Time High – Beats ATH Against 30+ Fiat Currencies

The world’s leading cryptocurrency Bitcoin (BTC), is still making its way up after hitting the $65,000 level today, March 4. 

Bitcoin (BTC) is now 6% away from its all-time high of $69,000 after hitting an impressive $65,000. Despite a slight dip, BTC is currently trading at $65,065, 5.43% higher in the last 24 hours. Its total market cap has surged by 5.47% to $1.27 trillion. This massive surge has made the entire crypto community hyped as BTC approaches above levels. 

Over the last few days, Bitcoin (BTC) has also surpassed all-time high prices against various fiat currencies such as the Japanese Yen, Taiwan Dollar, South Korean Won, Chilean Peso, Indian Rupee, Malaysian Ringgit, Australian Dollar, Chinese Yuan, South African Rand, Norwegian Krone, and Turkish Iira.

With Bitcoin surpassing the fiat currencies, it only shows the fiat currency market value is decreasing due to the rising inflation rates that gradually diminish purchasing power. Market analysts also believe that Bitcoin (BTC) has turned into a price discovery mode after exceeding its critical level of $57,000.

Furthermore, expectations on Bitcoin (BTC) price increases as the Bitcoin halving event approaches. With its continuous bullish trend, Bitcoin (BTC) could set new record highs potentially surpassing its current all-time high.

If the current dynamics persist, Bitcoin (BTC) is most likely to surge towards $70,000 in the coming week. 

Meanwhile, after BTC surpassed the $60,000 level last week, spot Bitcoin ETFs are massively increasing. According to BitMEX Research’s update on Saturday, spot Bitcoin ETFs’ trading volume has reached over $7.3 billion in net inflows since its launch.

ABOUT THE AUTHOR See More

Sophia Cruz

Financial Writer - Asian & European Desks

Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.

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