On Tuesday, Bitcoin perched at a two-year peak ,
breaking above $68,600 and stalking the all-time high as money keeps rushing into the largest cryptocurrency by market value.
Bitcoin has gained 50% this year and most of the rise has come in the last few weeks when inflows into U.S.-listed bitcoin funds have surged.
On Tuesday, it was at $68,500 in Singapore, having reached a session high of $68,828, a whisker away from the all-time peak of $68,999.99 it set in November 2021.
Net flows into the 10 largest U.S. spot bitcoin funds reached $2.17 billion in the week to March 1, with more than half of that going into BlackRock’s iShares Bitcoin Trust , according to LSEG data.
While Bitcoin overbought in the short term, the move is far from done, and dips will be well supported with a move towards $80,000 not out of the question.”
Elsewhere, “Stablecoins” issued by Tether has crossed $100 billion, the crypto company said on its website on Monday.
Tether issues a stablecoin which is designed to maintain a constant value of $1 dollar.
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