Bitcoin breaks $65k, reaching highest level since November 2021

On March 4, 2024, Bitcoin (BTC) climbed above $65,300, less than $4,000 away from its all-time-high.

When writing, BTC fell below this value, currently trading at $65,1050 and having only 6% left until reaching the all-time high (ATH), according to CoinMarketCap. Trading volumes continue to hit new levels, with an 80% increase to $40 billion.

The fear and greed index reached 82 points, according to Coinstats. Over the past 24 hours, the indicator has decreased by one unit. “Extreme greed” is indicated on a scale with a value from 76 to 100. Such index indicators may indicate that FOMO sentiment is prevalent in the market.

Against the backdrop of a jump in the rate of the second largest cryptocurrency, Ethereum (ETH), showed growth above the $3,500 level. ETH is testing a multi-year high, reaching $3,520. The last time the token rose to this level was more than two years ago – in January 2022.

Of the top 10 by capitalization, Cardano (ADA) and Dogecoin (DOGE) show the most significant growth – 8% and 24%, respectively. At the same time, against the backdrop of market growth, the capitalization of the stablecoin USDT reached $100 billion (+9% since the beginning of the year).

Crypto analyst PlanB earlier predicted that Bitcoin would over $100,000 in 2023-2024 bull run. Previously, he correctly predicted cryptocurrency quotes in August, September, and October. The analyst is known for using the stock-to-flow (S2F) model, which assumes the price of Bitcoin will rise to $1 million after 2024.