Bitcoin set a new all-time price record on March 5 before losing nearly 7% of its value, according to data aggregated by CoinMarketCap.
Bitcoin finally broke the US$69,000 barrier after flirting with the possibility for over a week.
The world’s largest cryptocurrency by market capitalization traded for as high as US$69,170 on March 5 but has since fallen to US$64,655, as of noon ET.
As Bitcoin is traded on numerous exchanges around the world, not all platforms may agree on the price.
CoinMarketCap, which aggregates the price of cryptocurrencies from 721 exchanges, states that Bitcoin has set a new price record.
However, according to CoinGecko’s price aggregation, which is calculated with data from 971 exchanges, Bitcoin’s highest trading price was US$68,912.
Bitcoin’s rally has been widely attributed to exchange-traded funds (ETFs), particularly in the United States, which have experienced unprecedented trading volumes.
Last week, global digital-asset investment products saw over US$30 billion in trading, signaling robust market sentiment and institutional engagement.
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- Source: https://forkast.news/bitcoin-falls-after-setting-new-all-time-high/
