Bitcoin touches $64k for first time since 2021

By Bralon Hill

February 28, 2024 at 6:19 pm

Edited by Brian Stone

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Bitcoin touches $64k for first time since 2021

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Bitcoin has reached $64,000 for the first time since the peak of the 2021 bull run.

In the past two days, Bitcoin (BTC) has risen from $51,000 to hitting $64,000 briefly today. The price rise has resulted from the Bitcoin ETF and the upcoming halving event, where investors buy up more than what is mined daily.

This is the single most important ratio in global finance right now.

If it continues for the foreseeable future, the world will change and there will be no going back.

(h/t @Matt_Hougan) pic.twitter.com/6IElTyiAJK
— Pomp 🌪 (@APompliano) February 28, 2024

For a supply shock to happen this early before the Bitcoin halving is expected as the price rises most times before each halving. However, if Bitcoin hits a new all-time high before the halving, this will be the first time in the cryptocurrency’s history that this event would occur.

Bitcoin touches $64k for first time since 2021 - 1

Institutional investors are bullish as the Bitcoin ETFs hit record-high inflows, and the Fear and Greed Index is showing a score of 80, indicating extreme greed in the crypto market.