Bitcoin set for new all-time high as price hits $68,000

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  • Bitcoin price has touched highs of $68,000 on Coinbase.
  • The Bitcoin market cap has surpassed that of Meta Platforms, rising to $1.32 trillion compared to $1.27 trillion.

Bitcoin’s incredible rally over the past few days has extended with another huge upside today. After retreating to lows of $61k last week, Bitcoin price rose more than 7% in 24 hours to hit highs of $68,000 on crypto exchange Coinbase on Monday.

The surge saw BTC add more than $4,100 to its value, with the leading cryptocurrency closing in on its all-time high reached in 2021. During that bull cycle, the price of Bitcoin rallied to highs of $69,044. Per today’s performance, Bitcoin is less than 2% from that peak.

With spot Bitcoin ETFs frenzy on and the supply shock of the upcoming halving, analysts are saying that BTC still has a lot of room to grow. ETF analyst Eric Balchunas says the trading volume seen last week is more of “new normal than anomaly.”

As Bitcoin price surges, its market cap has surpassed that of top assets such as Visa, Tesla, Broadcom and TSMC. On Monday, the bellwether crypto hit $1.32 trillion in market cap, surpassing Meta Platforms that ranks 10th amongst largest assets by market cap with $1.28 trillion.

Bitcoin is now just behind Silver in 9th, with the precious metal in 8th spot with a market cap of $1.358 trillion.



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